#163 USDCAD Long (Buy) Trade Setup IdeaUSDCAD has broken a daily support level and is now falling to a key demand level where we can expect some kind of a rejection. If price action permits, we can look to this level for a potential buy opportunity and aim for a test of the previous support, now turned resistance. If that level does not hold, then we can continue to hold our longs for higher highs on the daily timeframe.
This setup gives a great risk:reward.
Usdcadsetup
USD/CAD Buy OpportunityTechnical Overview: - USD/CAD
DXY NFP last Friday was the juice needed to push price lower.
We are bullish from a higher time frame perspective, so we only look for buy potential entries
we do understand that smaller time frame suggests downside, this could be used as an opportunity to enter in when price is falling.
Analysis is only 1 piece of the puzzle 🧩
Our analysis is a sentiment for the upcoming week, month.
Use this as a weather forecast, you are the person that has to put on a jacket when it’s raining.
Trade this sentiment based off your own entry strategy at the right time.
Flow with the Devil 😈
Trade with the manipulation👾
USDCAD, Battling For Breakout...!1.265-1.26 Still expected as Bearish Channel is
Broken and Retested.
Strong Inverted Hammer on Weekly TF.
M.As are still supporting Bears.
Else
We need to break Rising Wedge (1.29 zone)
for proper BULL RUN..
Rising Wedge Formation
Price respected 1.29 zone and holding
upper TL.
Bearish Channel Broken on Lower TF.
Despite Dollar recover, USDCAD still
managed to fall due to the rise in CAD
value.
USD/CAD BUY THE PULLBACKTechnical Overview: - USD/CAD
While the the obvious trend is bearish, we are out here doing the opposite.
Trading is all about your mental decisions, and our outlook changes our outcome.
Since price had dropped, this created a huge discount for hedge funds to enter in on cheaper prices.
We are bullish simply because price is oversold from a HTF.
Smaller time frame suggests downside, this could be used as an opportunity to enter in when price is falling.
Analysis is only 1 piece of the puzzle 🧩
Our analysis is a sentiment for the upcoming week, month.
Use this as a weather forecast, you are the person that has to put on a jacket when it’s raining.
Trade this sentiment based off your own entry strategy at the right time.
Flow with the Devil 😈
Trade with the manipulation👾
USDCAD - Full Analysis BreakdownWelcome traders to a free analysis breakdown.
Today I am highlighting possible trade ares on USDCAD, if you any questions on the pair let me know in the comment section below.
Once the pair gives us a valid trade entry I will be sharing the trade with the Alpha community, I hope you all found this breakdown helpful .
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USDCAD: Ending Diagonal PatternIn some cases, we cannot detect the main trend clearly. But there are patterns that are helpful, they temporarily show the trend. One of these patterns is Diagonal.
As you can see in the image, the Diagonal pattern is formed and we are waiting for the price to increase to the range of 1. 3411. To get the confirmation for the uptrend, the price should cross the range of 1.2835.
In addition, convergence is evident in RSI. This analysis will be violated by crossing the price from the range of 1.2588.
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USD/CAD Buy Opportunity Technical Overview: - USDCAD has been on a bearish run past the few months leading up to January.
We know this is a monthly trend that many people have sold based off and many people have swing trades positions to the downside.
The markets is not yet done, we may have more downside to around 1.2600 Zone which would be a much better R:R at a discounted price.
Fundamental Overview: - DXY is gaining bullish momentum because of recent high impact NFP news and unemployment change rate.
Analysis is only 1 piece of the puzzle 🧩
Our analysis is a sentiment for the upcoming week, month.
Use this as a weather forecast, you are the person that has to put on a jacket when it’s raining.
Trade this sentiment based off your own entry strategy at the right time.
Flow with the Devil 😈
Trade with the manipulation👾
usdcad longIn case of breaking the trend line and reaching the specified area and the presence of return signs, the purchase transaction can be entered by observing the loss limit.
Of course, note that now is not the right time to enter the trade, and this is just an analysis, and just pay attention to the fact that now the chart has a good and significant situation.