nahidik
Long

USDCAD One more push up?

FX:USDCAD   U.S. Dollar/Canadian Dollar
260 2 11
3 months ago
On the HTF             this pair has wanted to drop for quite some time. I am holding with my prediction of it hitting the .382 on the daily correction which is about 1.333. Of course there is no guaranty it will get there or stop there. The daily is in correction and when it does break down we can expect to see 1.20
I am looking for a break of the blue 4 hr             trend line with a small correction on the 1 hr             . Should be good for nice long. If price drops into the PRZ I will look for longing signals there.
Keep your eye on the DXY             and oil             as there are strong correlations.

Educate yourself, create a trade plan, validate your trade ideas with other traders ideas. Own your trades good or bad.

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3 months ago
Comment: Revised the entry point. DXY is turning and the USD could fall further. Look for strong bull signals before entering this trade or a break of the TL.
snapshot
3 months ago
Comment: Price has come down very steeply into the revised PRZ. Watch carefully for bull signals. If price rebounds steeply that is a good sign, if price goes up slowly it may be another flag for further down.
3 months ago
Comment: It looks like we are getting close to a reversal. Look for a strong one hour break of the purple trend line and a small flag. Buy the break of the flag.
snapshot
catrionaforex
3 months ago
Thank you for the advice :-)
Reply
I.Am.Leo
3 months ago
snapshot

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