Pending Short @ 1.2820
Stop Loss @ 1.2930
Target @ 1.2540
RR Ratio @ 2.55
Trade Will invalidate if its did not break below 1.2670 before pull back.
Trading involves substantial risk of loss. I'm just providing insight into what trades I'm taking.
USD/CAD is back at the trendline that defines it's current overall uptrend on the 4 hour chart.
It has also close just above a major resistance area/zone.
I will be looking to enter a long when the market opens this week.
PLEASE NOTE: I don't usually use a stop loss except to lock in profits so make sure to choose your own stop loss. I typically wait for a...
USDCAD buy entry had triggered early than expected, ADR LOW was tested last night and currently, price is above that level. Despite oil price going up, I still believe that Market has to respect all levels and that USDCAD will start the bullish trend by the end of this week or beginning of next week.
The sell-off in USDCAD could be coming to an end at the 70.70% retracement level with stochastics firmly in oversold territory.
We've noted a 1.272% extension of the impulse leg down (green box shows 1.272 - 1.414 Fib levels) which would suggest a move up to around 1.27200 to complete the pattern.
A break and close below 1.25130 will invalidate this pattern, and...
Another setup at usdcad. the pair at which I hold the worst track record :D :D So trade it your own risk and use a stop loss. If this goes sideways there will be enough other profitable setups this week.
USDCAD has reached a resistance at the monthly and weekly time frame and also if you take a look at the daily and zoom out a bit you see that it had a strong...
USDCAD has been in a nice bearish trend. Right now its challenging the lower range again so we go try a buy and aim at the bounce back up. Long term usdcad might still be bearish but for intra day we can see a nice bounce back of 60-80 pips with oil also looking week. The weekly time frame show the same channel and bounce back.
The red line is the last strong...
Good Morning all,
Sorry I'm late with this analysis - entered the trade very early this morning and was unable to write up my analysis before now so I apologise for the late entry, however we have plenty room for pips yet so I thought it would be worth adding.
The USDCAD has been trading in a tight range but we've seen a bearish breakout below a lower...