CURRENCY PAIR: USDCAD ; Time Frame: 1D - 4H - 1H; Potential new lows Reject on Daily chart fibs zone 61.8 and 50 Shooting star on CRITICAL ZONE for selling wait for broke trendline on 4h-1h
Buy above 1.2393. Stop loss at 1.2335. Take profit at 1.2506. Reason for the trading strategy (technically): Price has broken major resistance-turned-support at 1.2393 (Fibonacci retracement, horizontal overlap resistance) and we can also see it break out of our long-term descending resistance line signalling that we can expect more bullish momentum. We expect...
Possible trend following position.
i enter long on usdcad for this reason - he is oversold - he is on big support -he is on ma20 weekly -the dollar is to weak for no real reason -oil will consolidate a bit i think so so i hope a pullback even oil are strong Like all tile enter with 2 different position the first i will cut around 30 pips gain anf i will let the second with a SL at +10 pips for...
HIi traders! Basic technical analysis here, Price has been bouncing between resistance which is also 0.5 FIB extension on last big downtrend. With what happened with DXY yesterday, I thought to myself that when DXY was surging and UC couldn't break upward, it surely won't do it now. Here is what I'm thinking : USDCAD SHORT ENTRY : 1.28328 SL : 1.28999 TP :...
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.
USDCAD broke higher during the course of trading yesterday and now they trade comfortably above the 1.2850 ,by the weakness in the oil prices and also by the strength in the dollar. The dollar has been strengthened by the smooth passage of the tax reform bill through the Senate so far and by the look of things, it looks as though the bill would get passed and this...
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...
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.
Watching for a new move back up toward 1.30 as USDCAD is showing some support at this trend line
USD/CAD has broken down the support level, but unfortunately, the move was on small volume, so it is too risky to trade it. We need to get a stronger signal, such as a resumption of the fall on increased/large volume. Perfectly, if the price corrects up and them resumes its fall. A stop loss should be placed above the level 1.2782. A potential of the deal is up...
The price showed a significant fall last Friday and broke down previous lower boundary of the range. The bearish move was sharp and on large volume, so we should give preference to short positions. We can enter the market after a breakdown of the fresh volume level of support 1.2724 - 1.2747. A stop loss should be place above the breakdown volume bar. A potential...
Hi traders, (As always, this analysis was shared with our students first) USDCAD made a perfect retracement of the 0.5 FIB of the previous trend. USD might make another push against all pairs this morning when the NFP stat will get released. This is a HIGHER RISK trade because trading before fundamentals news creates gap and does it usual SL hunting. Here's...
The Canadian dollar is now locked in the range between two levels: the support 1.2764 - 1.2777 and the local maximum/resistance 1.2911. Large volume is concentrated in this range, so the exit of the price from it will be a good signal for entering the market. Given the local uptrend and that the fall of the price was on small volume, we should give preference to...
After the correction on Friday, USD/CAD was trading in the local consolidation a little bit above the support level 1.2764 - 1.2777, where large volume is concentrated. Given the local uptrend and the presence of the strong support, we should consider long positions. We can enter the market after a resumption of the growth of increased/large volume. A stop loss...
The price corrected sharply on Friday, but the move was on average volume, so we should consider it as a reversal signal. Moreover, there is a local uptrend and the support 1.2764 - 1.2777. So we need to wait for the resumption of the growth (especially after the test of the level) and then we can open long positions. A stop loss should be placed below the...