It's hard time for me in GU pair, didn't expect for 4 back to back loses :)).
I will skip this pair for few weeks.
UCad still my favorite pair, UJ is shining with 4 wins in 2 weeks (not a single lose, R:R~3 to 4)
I have modified a bit limit order, it's in pullback phase, hopefully the order will active. Still keep the long run and find good entry for short run (R:R~1:5)
USDCAD is showing signs of continuation for more downside on the daily and 4H.
Looking to target at least a few hundred pips lower.
We're looking at a few weeks of consolidation, in line with the corrective structure on DXY for more downside.
This Should play out over the next few weeks
While Penguins are on the hunt, you can easily join them as well!
It is easy, all you need to do is to collect the hearts and watch for the eye signs.
Heart in the box - a place to take profits
Eye sign - spot to jump in, or watch
Penguin - expected direction
Have fun with it, and remember - this game is about the patience. Keep yourself...
Fib channels and fib retrace.
Monthly tippy tops and bottoms in light white.
Last Month's Top Bottom in White.
This and previous week top in blue.
Last week's close in dotted blue.
I'm bullish Dollars. Bearish oil.
🔰 USD/CAD will follow DXY lead - So for this pair is Bullish 🔰
🔻 USDCAD Daily Candle closed Bearish - But the price is trading above our Blue dotted line which was representing a Resistance to this Bearish Trend from last year
🔹 Our Next Bearish Support from here is 1.2600 following our Target as a Major Support for the week
🔹 As long as the price is holding...
🔻 USDCAD Daily Candle will close Bearish as the DXY is dropping - DXY has created a Lower Low ( LL ) and reached our Target successfully
🔹 Our major Support from here is 1.2400 Level then to 1.2300 figure
🔹 as long as the price is holding below 1.2600 will remain Bearish
✅ Oil + DXY will support this pair to drop more to the downside
🔔 We will trade USDCAD...