USDCAD is moving in an upward trend making higher lows and testing new support. I would not go long to the highest point because it is Friday and I don't want to get caught up in between when the market opens up and other factors. Target was previous high with a little push. Now let's see how this baby does.
Read Price-Action at trendline prior to executing Short entry. Note: Idea is to complement your research. Check comments section for future updates on idea. Like this idea? Like, Share, Follow, and Support channel for future content. Thank you and happy trading.
Here price already have broken the previous support now respect as well as resistance with trendline... So hope it will SHORT position... Just wait for confirmation and must follow PRICE ACTION...
Here a good downtrend and also today's USD news was bad impact. So after breaking this support You can go for SHORT...
USDCAD will not break above $1.36664 because of no recent attempt to do so. The last time prices were that high was last june and they did not stick there for very long. I am goimg short on this one as i am following the primary movement of price. I have no confidence in this awaited Bullish breakout because prices have - most of the time trending below $1.13037,...
Price has been pushing down while forming LHs and LLs on the smaller time frame, my entry was based on the H4 close which broke 1.34200 and pushed up for liquidity forming another LH on H1 as it retested it's broken support. My goal is to ride the current market momentum to the daily demand zone for a 1:3.
Chart is an expectation of market setup via gartley pattern. If market hits target C then; * SELL at 1.32839 * TP1 at 1.33311 * TP2 at 1.32911 * SL at 1.33800 Note - TP2 at target D in pattern. If market hits target D after selling at C then; * BUY on D at 1.32911 * TP1 at 1.33311 * TP2 at 1.33558 * SL at 10-20 pips below X (1.32839) Note - TP1...
I think we have reached leg B and now heading up to C but of course market could still retrace back to B or even a bit further down before heading up. My labelled zones are only a rough idea of where i think the market may touch. Decide on your own Entry & Exit. DISCLAIMER Please note that this chart is an opinion based chart only. Please trade at your own risk
Would be nice to have the same confirmation as before for a long term sell on USDCAD. Let's wait and see. I'm already in the trade waiting to add more trades to it.
As long as the 50 EMA on the 4H timeframe holds as support, we can expect USD/CAD to move up. This is the continuation pattern. We can also see good bullish momentum on the daily chart. Trade safe.
NFP results for USD were not good today and employment change results in CAD was better than expected. It is very possible USD/CAD is now in a short trend as indicators and candlesticks indicates. If the 200 EMA is broken, then it's going to go down until it finds support and the trend changes.
Volume has been created and the zone has been made. Price will move inside the zone and retesting the zone validating the downward move. Watch for selling opportunity by the successful zone test. If zone break that mean zone is invalid and must search another pattern. The recommendation is to watch for short opportunities down trend move.
USDCAD buy setup in the 1hr time frame using the Elliott Wave Theory