Regardless which way you want to trade, look for minimum five 4hr. candles in consolidation zones (yellow boxes). If you're a pattern trader or pinbar trader, this might be useful here.
Wait for the breakout of 4hr. consolidation to take the trade. I usually aim for 80% of the weekly ATR taking profit but not always at the next yellow box. I ...
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USDCAD FOREX BREAKDOWN 03 DEZEMBER 2018
Strong bearish retrace from 1.344 and previous resistance zone
Pullback found support and is consodilating now!
Overall very bullish trend with a small pullback, good long entrys
(Please split your Position to 3 small ones for perfect entrys!)
SELL AUDNZD ...
USDCAD has broken above 11/29/2018 high (1.336) as well as above 6/27/2018 high (1.3386) creating an incomplete bullish sequence. Short term Elliott Wave view suggests the rally to 1.336 on 11/29 ended blue wave (W) and the pullback to 1.3157 ended blue wave (X). Internal of blue wave (X) unfolded as a zigzag Elliott Wave structure where red wave A ended at 1.324. ...
USDCAD bounced nicely off its support at 1.3332(100% Fibonacci extension, 50% Fibonacci retracement, horizontal swing low support) where it could potentially bounce to its resistance at 1.3385 (61.8% Fibonacci retracement, horizontal swing high resistance).
Stochastic (55, 5, 3) is bounced off its support at 1.5% where a corresponding rise could occur.
USDCAD is approaching our first resistance at 1.3442 (ascending channel resistance, 61.8% fibonacci extension, horizontal swing high resistance) and a strong drop might occur below this level pushing price down to our major support at 112.66 (horizontal swing low support, 61.8% fibonacci extension, 76.4% fibonacci retracement).
Stochastic (34,5,3) is also ...
USDCAD is approaching first resistance at at 1.3324 (100% Fibonacci extension , 78.6% Fibonacci retracement , Horizontal swing high resistance) where it could potentially to drop to its support at 1.3220(61.8% Fibonacci extension , 38.2% Fibonacci retracement , horizontal pullback support).
Stochastic (55, 5, 3) is approaching its resistance at 96% where a ...
Confluences for Trade:
- Bearish candle formations
- Price action can't seem to break and stay above the Horizontal Resistance Trendline
- Price action reversed off middle of Parallel Channel
- Stochastic near Overbought momentum
- Fundamentally, the temporary truce between Trump-Xi trade war should be a positive to global ...
We are heading to an important resistance level for USD/CAD.
First resistance level is at 1.33100
Second resistance level is at 1.33500
Wait for a break or confirmation of the resistance level.
Let me know your oppinion!
Today an inside bar formed inside yesterdays inside bar. This signals consolidation within the short-term uptrend. A break above the high of today will take me long with a stop below today's low. I will target 2R for taking profit, but around 1R I expect to encounter possible resistance. Still, I intend to leave the trade on unless a clear bearish candlestick ...
We have seen some inside bars in the short-term uptrend signaling some consolidation or indecision. Today was a volatile day with the BOC announcing interest decisions.
The price broke lower breaking the low of the mother bar but closed inside the range.
This is a high probability signal for a long trade.
I will see if I can enter a little lower than the current ...