3 Times risk reward, on USDCADA counter trend trade?
A positive FOMC could strengthen the USD, driving the USDCAD off the support of 1.2950, up towards 1.3050
Forex-usdcad
Overnight trade 6/3/18USDCAD to continue lower, due to USD weakness
This is the start of a series of trades setups i'll be identifying, for traders who just haven't got the time.
So a trade to enter before going to bed and achieving a profit by the time they wake up.
This is only a probability setup, please remember to manage your risk and ensure to know why you are entering the respective trade
USDCAD UpdateUSDCAD retested the 1.2690 zone which previously acted as resisteance and is not support. The trend appears to be headed towards the 1.2800 zone
USD/CAD : Short entry to 1.21 (R/R : 8) Hey guys !
Here is a nice potential short entry on USD/CAD .
Accumulation of :
- Bearish structure
- Fib 61.8 / resistance zone combo
- Standard deviation
- Weekly trendline
- SMA 100 & overbought combo
Im looking for a double top on the channel
You can follow me for more high probability setup .
Good luck ! :)
CAD GDP this eveningI’ll be paying attention the CAD GDP this evening, as a surprise could present. The USDCAD has been trading in a 100pip range (1.2280 and 1.2380), a break of the support could see price extend toward 1.2100.
USD/CAD (31/1/18) *Expect the unexpectedNow everyone know that USD is weak and we have FOMC in a while.
The longer trend is DOWN for this pair, but it is good to expect the unexpected.
We might have 1.238 region as a minor retracement.
Trade Safe
s0nic
Disclaimer:
The information contained in this presentation is solely for educational purposes and does not constitute investment advice.
The risk of trading in securities markets can be substantial. You should carefully consider if engaging in such activity is suitable to your own financial situation.
Sonicr Mastery dot com is not responsible for any liabilities arising on the result of your market involvement or individual trade activities.
USDCAD short term trade for this weekI'm bearish USDCAD for the short term but I think we may get a better entry given the price action of the last days. A test of 1.26-1.271 looks probable.
We have a confirmed upward pitchfork that sets the regression price short term at around 1.265. From the basic pitchfork trading rules, when you are expecting a reversal, you should expect the next pivot to form at the median line .
Moderate Risk as we are against the macro trend.
USDCAD short setup usdcad has shown a lot of downwards momentum recently and as long as we remain below 1.26500 my outlook will remain bearish on this pair.
i am now awaiting a break of the ascending trend-line and a corrective structure to confirm downwards movement.
USD/CAD (10/Jan/18) *Potential Swing Back is in PlayUSD/CAD was in "Sort of" oversold region after hitting eating up decent SL of the long.
Now it is very like in the retracement mode. USD/CAD UP mean Oil can be down too.
In the longer term, we are still in BEAR but it "may" be time for a decent swing back as there are many shortists piling up to get wacked.
1.2590 and 1.272 will be nice targets.
Trade Safe
s0nic
Disclaimer:
The information contained in this presentation is solely for educational purposes and does not constitute investment advice.
The risk of trading in securities markets can be substantial. You should carefully consider if engaging in such activity is suitable to your own financial situation.
Sonicr Mastery is not responsible for any liabilities arising on the result of your market involvement or individual trade activities.
JUST HIT 1K REP. BONUS ANALYSIS- USDCADIn celebration for the milestone of earning 1000 reputation on tradingview I decided to do a bonus analysis on an old pair I used to trade but not so much anymore.
Recent fundamentals has given CAD some weakness as they decided to keep interest rates the same at the last meeting after a couple previous rate hikes and rumours about further rate hikes next year. Previously the CAD dollar was very strong as USD/CAD was in a previous downtrend.
We could see price make its way to one of the major zones with 1.30 being a big psych target and resistance level, if this is broken the next major zone would be 1.32. However with Oil prices on the rise close to the yearly highs this could give an additional boost to the CAD which we know is a commodity currency highly correlated with Oil. If the prices of Oil were to keep rising and the BoC keeps with the hawkish tones indicating further rate hikes in 2018 USD/CAD will return to a downtrend. A confirm of this would be a break in the ascending channel and a change in the sequence of HH and HL to LH LL.
USDCAD Breaking Support 4h Candle..TGT 1.2465USDCAD broke Support on the 4h Candle, now I'm heading to 1.2465
1:1 Risk/Reward
USD/CAD Daily Update (29/8/17) *Play other USD Pairs
Now everyone hate USD.
I think it "may" be priming for short covering rally. It may not be a start of uptrend but at least a possible swing back.
I expect the region near 1.24 will be highly defended.
If you have play weakness of USD, try looking other pairs.. not USD/CAD
Possible Swing up from that level. Wait for it. IF you ever take any Long position, it will be considered
Let's see and trade Safe.
s0nic
Disclaimer :
This analysis not include personal feeling/opinion, and pure base on technical analysis
Trading foreign currencies can be a challenging and potentially profitable opportunity for investors. However, before deciding to participate in the Forex market, you should carefully consider your investment objectives, level of experience, and risk appetite. Most importantly, do not invest money you cannot afford to lose.
please inform me with post a comment if it reach some critical point/break pattern, reach target/reach stop level.
or if there is any question about this analysis/need new update.
Because I'm not monitoring this chart all time.
USD/CAD Daily Update (23/8/17) *Careful with your short positonsI can't help but see the very good support level of 1.2440 area.
If you are having a short, just be careful
At the same time, do not rush in with he long positions as well,
I am planning to send into some long scouts to test water.
It is not outright bullish calls yet.
Let's see and trade Safe.
s0nic
Disclaimer :
This analysis not include personal feeling/opinion, and pure base on technical analysis
Trading foreign currencies can be a challenging and potentially profitable opportunity for investors. However, before deciding to participate in the Forex market, you should carefully consider your investment objectives, level of experience, and risk appetite. Most importantly, do not invest money you cannot afford to lose.
please inform me with post a comment if it reach some critical point/break pattern, reach target/reach stop level.
or if there is any question about this analysis/need new update.
Because I'm not monitoring this chart all time.
USDCAD - bullish momentWe've got an upward impulse in wave {i}, so wave {iii} is going to start soon.
USDCAD - correctionWave {ii} is going to move on. If a pullback from the 38.2% retracement level of wave {i} happens little later on, there'll be an opportunity to have another bullish impulse wave.
USDCAD - bullish storyIt seems like a bearish impulse in wave C has been ended, so we could have a bullish impulse in wave 1 or A.
Possible USDCAD BreakoutI see USDCAD testing previous area before it continues to rise. If you plan on opening a position, wait for the dip. Good luck!
USDCAD - correctionThere's a pullback from the 144 Smoothed MA and the channel's upper side. So, wave iv may have been ended, which means we could have just another bearish impulse soon.
