Price made a break to the downside through the phase line of the channel, came back, tested it and got rejected. Very tight SL but still some room for another possible test.
Buy above 1.3200. Stop loss at 1.2990. Take profit at 1.3600. Reason for the trading strategy: USDCAD made a bounce up as expected and reached our profit target once again. We remain bullish above 1.3200 support (Fibonacci retracement) for a push up to major resistance level at 1.3600 (horizontal resistance, Fibonacci retracement). Stochastic (21,5,3) is...
USDCAD major levels of resistance: 1.3600 (Fibonacci projection, Fibonacci retracement, horizontal overlap resistance, swing high resistance) USDCAD major levels of support: 1.2200 (Fibonacci retracement, swing low support) 1.2040 (Fibonacci retracement, Fibonacci projection, swing low support) 1.1400 (Fibonacci projection) USDCAD technical indicators: RSI...
Hello Traders ! I am back .. Merry Christmas, Sorry I know I am late but too much busy with some issues. here is the Setup of USDCAD , As I am expecting the down move becuase price traps between weekly channel. Take a short position now thanks
Will the retracement for the target transpire in this market? I'm not sure but if you can handle the risk, Why not strive for the reward? Good Luck!
USDCAD H4 This is a long term forecast of USDCAD. I'm looking for a move up to complete a five waves pattern correcting the big move down from 1.46000. If this unfolds as predicted, we will see a continuation of the down trend. The other unlikely possibility is that we will start an uptrend. Time and price will tell. Either way, we can make money in ups and...