if price goes below previuos HH(where bearish momstarted, look for short term LL and break of res) Current pos: formed a HL - break of decending trend look for structure change, enter on HL - ride t othe Highs of HH and maybe to break because on Weekly, its above structual retest area so could go long like a lot.
USDCAD H1 Short TP1: 1.33389 TP2: 1.32976 This is not investment advice Obviously I do not use sl , adjust according to your own account
First consolidation at current levels then retest of the neckline theirafter you open a short if it fails to break the same.
Price is approaching our first resistance at 1.3383 (horizontal pullback resistance, 76.4% Fibonacci retracement, 100% Fibonacci extension) where a strong reaction might occur below this level pushing price down to our major support at 1.2721 (horizontal swing low support, 100% Fibonacci extension, 50%, 76.4% Fibonacci retracement). A breakout below our...
Im looking at a trend line that was form on 2/2/18 and the us/cad had been respecting it until 03/21/18 when a drop in price pull move the price enough to make a breakout, we should try to wait for a pullback and restest of this trend, to enter at 1.29600 and looking for the price to drop to 1.26110 for some 350 pips.
From my view NZd outperform and cad underperfom so i made this intraday trade short at 0.8980 target 0.8920 gains 60 pips in 2 x 1 lot when first lot reach 25 pips i cut it and make the second lot with a SL at + 15 pips
Technical: Prince in range-bounce and quickly reject the weekly support level around 1.2895 Stop should be above the daily pin bar and target your profit close to weekly support at around 1.2670
Price broke trend line, look like it is starting a new up wave. Looking for long position..
15 Min Chart. Possible Bullish Inverse Head and Shoulders forming
This is our mid-term analysis and during the next sessions, we will publish intraday chart updates ... If you are interested, follow us! Thank you for your ILIKE, your support and trade with care!
I have changed my analysis over the weekend. Main reason being, since looking at the monthly chart and how the Daily ended up closing with a much smaller lower wick. I believe this will drop more.
USDCAD has moved from overbought and with the RSI now 66.6 and falling I expect more downside to come. Stellar CAD jobs numbers on Friday should help push this pair south until Wednesday when we get the expected FED rate hike and the key FOMC Statement and Economic Projections. For now this pair is soft. Trade idea. SELL down to key support at 1.3389 LONG trades...
Setup Timeframe: Daily Entry Timeframe: 4H (Order Set) Risk: 2.74% Reward: 6.79% Reasons for Entry: Entry near 61.8% fib level, and at previous resistance level that should now act as support. Reasons for SL placement: Below the 78.6% level. Reasons for TP placement: Near the -0.27 fib extension level, below current R1 level. Note: Idea from Corey
Wait For Bullish Reversal Candle h4 Tp1 Fib 0.325 AD Tp2 Fib 0.618 AD
Eyeing a little more strength to be picking up in the USD. Just enough to push it close to the 1.33 level then tumble back down