USDCAD is currently trading in a strong bearish trend.
during the last few days, we saw a nice pullback though.
friday's candle closed on a resistance line of a falling channel.
matching with fib.levels of the last legs and a horizontal structure on the left,
the price is now clearly trading within a strong structure...
It has been a very action packed number of weeks on, and let's admit it, in an already red hot market. I
can go on and on about the Federal Reserve, The Wall St Hedge Funds, the overinflated majority of
stocks on (any) market today. But, is that really that much fun? I would be (to many of you) preaching to
the choir, and saying nothing new.
I thought that I...
Welcome to our weekly trade setup ( GBPCAD )!
Market about to turn bearish..
Bearish price action and pressure formed, good short entries!
Overall bullish market about to break back towards previous lows.
ENTRY LEVEL @ 1.74750
SL @ 1.76470
TP @ 1.72060
Max Risk. 0.5% - 1%!
(Remember to add a few pips to all...
. There is a possibility of temporary retracement to suggested support line (1.3333). if so, traders can set orders based on Price Action and expect to reach short-term targets.
. USDCAD is in a range bound and the beginning of uptrend is expected.
. The price is below the 21-Day WEMA which acts as a dynamic...
CADCHF create a clear double bottom on the weekly chart.
Now price is consolidating below the daily structure.
If the price will manage to break and close above the blue structure and cosenquently break thye channel we can set a nice long order according with our strategy.
Follow the Shrimp 🦐
Here is the Plancton0618 technical analysis, please comment...
CADCHF is currently trading in a bearish trend.
after a pullback from 0.675 level, the price started to consolidate.
with a sequence of two lower highs and three equal lows, we see the perfect example of a descending triangle.
based on that we may catch a great trading opportunity.
to trade it wisely we should wait for...
. There is a possibility of temporary retracement to suggested support line (1.7405). if so, traders can set orders based on Price Action and expect to reach short-term targets.
. GBPCAD is in a range bound and the beginning of uptrend is expected.
.The price is above the 21-Day WEMA which acts as a dynamic support.
The bullish trend line broke, but the region that it broke is strong support zone, the trend broken from this region gets support and strengthens so we set our risk and profit rate logically, we will watch and see.
Please like the idea for Support & you can share your ideas and charts in Comments Section .. !!
Inspired by an indicator I found on stevehopwoodforex.com and the endless possibilities of tradingview.com I came up with this currency strength visualisation concept.
*Please hit the zoom-out button once*
(or more if you're feeling wild)
This may look like a mess, but the last few "bars" on the chart are holding some useful information!
I'm sure I'm not the...