Hello everyone, USDCAD could be big short for 600pips Double top was formed started goin down had retrace but as u can see on monthly timeframe it is getting weaker. on lower Timeframes failed to make new higher high.
Just an update on yesterdays trades, price is still showing nice signs that this support level is going to hold. I have opened a half size position I usually risk so that if price pushes back down to a better entry point I can add another position.
I've noticed a head and shoulder forming on USDCAD, with rejection on Major Level 1.28000. We will have to wait and see what the reaction of price does on level 1.26000 before any decision is made.
Continuation sell trade from break and retest of trend line Wait on a break and retest of level 1.26500 to enter short towards level 1.25000. Wait for a good bearish confirmation before entering.
The zone to the left provides a great area of demand to bounce from. I would like to see some rejection and structure shift on the lower timeframes before we begin to buy into the bearish imbalance on the way down. What are your thoughts on this setup?
USDCAD Evidence For Short 1) Market has not able to cross strong resistance twice. 2) Double Top is formed at resistance level. 3) Ascending wedge can be seen in chart pattern that represent bearish reversal. 4) Divergence can be seen on RSI that also sign for reversal. Don't forget to like and comment about this idea.
We consider selling this USDCAD pair because of a strong resistance above. We know what we are doing and we do what the market is doing. This is more than an institutional analysis. Invest wisely. Thank you for following me on tradingview.
I want to see just a little bit more price action around current area but price is building nicely and does look like we may see another impulsive move to the upside.
The loonie-dollar pair had risen to its highest level in a month the day before, as the US dollar's safe-haven demand was bolstered by a broad risk-off mindset. Concerns about the upcoming federal elections in Canada, as well as low prices for Ontario's principal export, oil, ran parallel. It should be mentioned that rumors that a senior US Senator, Joe Manchin,...
USDCAD price Falling to 1.2620 - 1.2600. It can take 24 hours and during this time we can have sales trades. Please pay attention to the GBPUSD chart that I published on last Thursday.
Will be looking for positions probably Tuesday.. an upside continuation would be the idea situation as we got a late push on Friday to close out a strong daily and weekly candle. Important though to wait for the retracement and get in with the best risk reward. Will stay active and hopefully give out my entry's on a few different pairs next week.
The usdcad saw strong buying this week. We're going to flip our bias to a buy for the pair. BULL CASE 1.30 is the target that we're looking at for this pair BEAR CASE If we're wrong, our initial analysis for a short to 1.23 will materialise.
price already breakout the resistance area but we must wait for a retest and confirmation.
BUY Order 1.26620 TP1 : 1.26977 TP2 : 1.27385 SL : 1.26331
Hello Traders, this is my idea for FX:USDCAD . A close above the resistance will give a googd buy impulse, a close below short. Post your idea/analysis below for discussion. Thank you all for your support. For more accurate setups, stop loss, take profits and mentoring services, FX signals, Crypto, Indices and Stocks PM me.
We consider selling this USDCAD pair because of a strong resistance above. We know what we are doing and we do what the market is doing. This is more than an institutional analysis. Invest wisely. Thank you for following me on tradingview.
Currently it's in a consolidation between 1.270 and 1.260 So we can have a sell trade up to 1.2600 or 1.2620
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