UsdCad has been in a bullish considation zone since June 2017... For the past 4 months its been gradually falling but i see opportunity to hop back into a perfect buy for the next few weeks off a double bottom on the Daily which is touching a monthly resistance, so possible swing trade for 600+ pips
USDCAD on the daily time frame shows a nice buy setup. As you can see it has already broken the upper range which is a nice bullish signal. Then we notice that its currently at a resistance. When you see how Stoch and ADX are shaped it looks like theres enough power left to break the resistance and head up further. Stoch is about to make the bullish crossover and ...
(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.
1. s/r 5 2. 11 3.8
strong s/r and trend line wait to see if its gonna break or not.
Wait for confirmation.
Go with trend and momentum
Don't try to get in too early.
Don't risk what you can't afford to lose!
EMA Crossing on 4hr TF, but even so, I'm awaiting daily candle close confirmation near the 'Spring' area in order to move in and hopefully profit at the .50% fib. mark.
1. Touching Daily long-term trend Support Area & at Ascending Support;
2. Within Upward Channel
3. EMA crossing (4hr)
4. Appears to be a change in Polarity
PS: If it goes past ...
I'm initiating long positions on USDCAD as price has failed to pierce through the support zone around 1.3140's, My orders got filled around 1.3160's, check your trade plan and risk-reward before entering long in USDCAD. The sole reason for entering long is the strong support zone we have in USDCAD.
If all goes well and Target 1 is achieved in USDCAD, ...