USDCAD made a reasonable impulse from the channel and has currently printed another continuation pattern.
looking forward to taking the break outside the pattern and setting my stops just above.
Potential Bullish Entry Dow Theory In Place -
Higher High and Higher Low Expected in Place
Formation of double bottom coupled with bullish divergence (Bullish reversal pattern)
Entry, SL & TP Levels are defined.
USDCAD seems to have turned bullish on multiple time frames. We are waiting for a correction to end on the lower time frames before we enter long.
Various factors and patterns supporting out bullish stance has been plotted on the price chart.
Here is my view for USDCAD on H1. The price could go bearish, you can put a pending order on the Order block or find an entry on LTF within OB Zone. Trade Safe!
Yesterday I draw attention to a potential double top for UsdCad.
Indeed, after an anemic and short-lived rally to 1.3584, the pair broke under the neckline's support and dropped like a stone after.
At the time of writing the price is 1.3440 and in the eventuality of a correction, this should be used as a selling opportunity.
In conclusion, I remain strongly...
USD-CAD broke a support
Cluster of the horizontal
And rising support levels
Around 1.358 and the
Breakout is confirmed
Because the 4H candle
Closed below the confluence
So a bearish continuaton
Is now to be expected on
The pair after the
Potential pullback !
This Is An Educational + Analytic Content That Will Teach Why And How To Enter A Trade
Make Sure You Watch The Price Action Closely In Each Analysis As This Is A Very Important Part Of Our Method
Disclaimer : This Analysis Can Change At Anytime Without Notice And It Is Only For The Purpose Of Assisting Traders To Make Independent Investments Decisions.
This Is An Educational + Analytic Content That Will Teach Why And How To Enter A Trade
Make Sure You Watch The Price Action Closely In Each Analysis As This Is A Very Important Part Of Our Method
Disclaimer : This Analysis Can Change At Anytime Without Notice And It Is Only For The Purpose Of Assisting Traders To Make Independent Investments Decisions.
Pair : USDCAD ( U.S Dollar / Canadian Dollar )
Description :
Symmetrical
Impulse Correction
" 1234 " Impulsive Waves
S / R Level
Bearish Channel in STF as an Corrective Pattern
Divergence
Waiting for a retest of 1.35670 to long USDCAD back to daily Key level at 1.37040
If you agree drop a like and if you have any questions leave a comment :)
Are you ready for some oil talk? Because I've got some juicy information for you that might make your day. Rumor has it that Western Texas oil is about to rise, which could mean big things for the USDCAD.
You see, the Canadian dollar is heavily tied to the oil price, and if it goes up, we might see a breakout in the USD CAD. So, what does that mean for you? It...
in the last week USDCAD did not experience an extreme price jump, the price range is still in the low range. still in accordance with the previous analysis, this pair still looks bullish with new invalid area updates. as long as the price doesn't fall more than the invalid area, the elliot wave notation is still in accordance with the old update.
The reasons why I strongly believe this move will happen are the following:
According to the CFTC non-commercials are shorting CAD.
Non-commercials have 20,388 positions long and 68,914 positions shorts. This means that they are selling more CAD than they actually buying it. According to this info we could expect a move to the upside.
From a monthly...
We are looking to potentially long this pair due to the following reasons listed below:
1: Higher time frames remain largely bullish
2: Key Level breakout and change in market structure from bearish to bullish
3: Trendline breakout
4: Bullish falling wedge breakout
The consider the frame on multiple time frames before we consider which direction to potentially trade.
Dear Traders, our last setup acted as we described price now have reconfirmed the future trend. If the price break out the previous high structure which will gives us indication of when we can enter.
Please like and share! ...
