Will be looking at the PRICE ACTION near support. There are two SUPPORTS, one at 1.3380 and the other at 1.3338.
I will be looking for BUYs if price reaches these SUPPORT LEVELS and target 1.3520 as TP.
# Classic breakout and retest setup. Resistance popped and price came back to test as support and print a hammer (buy signal). If you switch to the daily time frame and look at the previous high its a long way to go, so with 163 pip reward the cost of opportunity of 30 pips sure is worth it!
# I have bought at market price 1.34834
# Stop loss 30 pips below the...
Hello guys. Please refer to the image. This is what I see for USDCAD.
After a nice drop following my previous analysis, I'm going for a long because the resistance has been retested multiple times, making it weaker. Usually, price will go back there to break it.
Let's see. Don't forget to put a risk on your trade. TAYOR!
KHALID HAMID @ tfspriceaction
welcome to another free signal!
Important: Do not place a Buy-Stop-Order here! You increase your risk due to a possible double-top-patterm!
Wait for a Break above the previous TOP and wait for the S&R-Flip!
Target 1: 1.34836
USDCAD is approaching our first resistance at 1.3463 (horizontal swing high resistance, 100% Fibonacci extension) where a strong drop might occur below this level pushing price down to our major support at 1.3395 (horizontal pullback support, 38.2% Fibonacci retracement, 100% Fibonacci extension).
Stochastic is also approaching resistance where we might see a...
Still within the rising channel, as long as there is no exit from this rising channel we remain in a buying position, the best time to buy is as close as possible to the support line.
Entry price: 1.3427
Stop loss: 1.3250
Take profit: 1.3660.