there is a change in the elliot notation on this pair. if you look at the pattern that has occurred, then a complex correction has occurred and may enter the final period. I am more inclined to buy. looking at the existing history, the price always responds positively to the trend line, so the big possibility is bullish. bullish analysis can fail when the price...
USDCAD is range bound between 1.3320 to 1.3650 region. Sometime ranges are good option to trade just sell the top and buy the bottom. Will USDCAD play this scenario this time ?
Dear traders, after Bank of Canada's rate event yesterday, USD/CAD dropped
to the 1.3321 level. However, the fall was arrested as it is a strong support level .
Based on the current price action, it seems the 1.3320 support level would continue
to hold.
So, if price action becomes bullish at this level and the support level stays
unbroken, traders can consider...
as we can see, there is a FTR near here and since the price have reacted to the mouth FL of this FTR, I believe that there is a good chance that with this CP approach, we'll see a good reaction to this supply zone.
⚠️ Notice:
I will enter one third of my position when price touch the box and the rest of it in the middle of the box. My TP would be R/R=3 and...
The USD/CAD has been consolidating since late last Friday. Key levels include 1.346 and 1.345 for the upper bound and 1.341 and 1.340 for the lower bound. The market appears to be in the middle of the storm that might be unleashed after the Bank of Canada’s (BoC) interest rate decision on Wednesday.
In January, the BoC made history by being the first major...
USDCAD made a reasonable impulse from the channel and has currently printed another continuation pattern.
looking forward to taking the break outside the pattern and setting my stops just above.
Potential Bullish Entry Dow Theory In Place -
Higher High and Higher Low Expected in Place
Formation of double bottom coupled with bullish divergence (Bullish reversal pattern)
Entry, SL & TP Levels are defined.
USDCAD seems to have turned bullish on multiple time frames. We are waiting for a correction to end on the lower time frames before we enter long.
Various factors and patterns supporting out bullish stance has been plotted on the price chart.
This Is An Educational + Analytic Content That Will Teach Why And How To Enter A Trade
Make Sure You Watch The Price Action Closely In Each Analysis As This Is A Very Important Part Of Our Method
Disclaimer : This Analysis Can Change At Anytime Without Notice And It Is Only For The Purpose Of Assisting Traders To Make Independent Investments Decisions.
The price has broken a significant trendline and resistance level and is therefore expected to target higher resistance levels.
Good trading!
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As we can see on PEPPERSTONE:USDCAD 4H chart price braked 4H high & now price retrace to imbalance area. Here we can see 2 areas as our entry point. 1st area is low probability may be act as internal liquidity garbing area. 2nd area acting as strong DEMAND as occur to BOS in 4H chart. We are personally looking dis area as our entry point.
Waiting for a retest of 1.35670 to long USDCAD back to daily Key level at 1.37040
If you agree drop a like and if you have any questions leave a comment :)
Are you ready for some oil talk? Because I've got some juicy information for you that might make your day. Rumor has it that Western Texas oil is about to rise, which could mean big things for the USDCAD.
You see, the Canadian dollar is heavily tied to the oil price, and if it goes up, we might see a breakout in the USD CAD. So, what does that mean for you? It...
