Position Trade - USDCAD
In the Monthly Chart,
- Price is reaching again the Supply zone
- Although price has been testing it over the years, the Supply zone has been holding. Thus, the price may reach deeper into the zone before dropping again, thereby presenting opportunities in the lower TFs i.e. WK or D1 for SHORTS
In the Weekly Chart,
- 2 things can...
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.
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.
Here is my view for USDCAD on H1. The price could go bearish, you can put a pending order on the Order block or find an entry on LTF within OB Zone. Trade Safe!
USD-CAD broke a support
Cluster of the horizontal
And rising support levels
Around 1.358 and the
Breakout is confirmed
Because the 4H candle
Closed below the confluence
So a bearish continuaton
Is now to be expected on
The pair after the
Potential pullback !
On the 4-hour chart the trend started on May 26 (linear regression channel).
There is a high probability of profit. A possible take profit level is 1.3499
But do not forget about SL = 1.3656
Using a trailing stop is also a good idea!
Please leave your feedback, your opinion. I am very interested. Thank you!
Good luck!
Regards, WeBelieveInTrading
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.
USDCAD CHART ANALYSIS POSTED ON TUESDAY 30 MAY 2023
Let's see how this pair will perform based on the analysis.
Make sure you do your research and based on your confluence please look for the entry.
Don't rush your trades without any confirmation.
Trade safe and use always proper risk management.
Thanks in advance for checking my trade idea.
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.
Usd cad is in uptrend but we have a scalping trade of 70-80 pips which is led by H4 Resistance level to H4 trendline also the reason for entry is the bullish move of USDCAD has not yet completed any rtracmet am expecting 68% retracment which will meet our targets
Dear Traders, our last setup acted as we described price now have reconfirmed the future trend. If the price break out the previous high structure which will gives us indication of when we can enter.
Please like and share! ...
Instruction:
1)The Relative Strength Index (RSI) shows that the asset is temporarily overbought/oversold, suggesting a possible trend reversal.
2)The Bollinger Bands indicator shows that the asset is currently in an upper/lower resistance/support zone.
3)The Stochastic Oscillator (Stoch) in forex helps identify buying and selling moments based on a comparison of...
www.tradingview.com
www.tradingview.com
. Don't forget about stop-loss.
Write in the comments all your questions and instruments analysis of which you want to see.
Friends, push the like button, write a comment, and share with your mates - that would be the best THANK YOU.
P.S. I personally will open entry if the price will show it according to my...
Price is currently hovering near a key resistance zone at 1.3540 on the H1 timeframe, which coincides with the 78.6% Fibonacci extension. Failure to hold above this zone could see price push lower to test the next support zone at 1.3480. Stochastic RSI is in the overbought region above 80, supporting our bearish bias.
The Return of the Sellers
Over the past two decades, the US Dollar's market share has declined from 71 percent to 59 percent, and it may continue to reduce further in the future. This has a negative impact on the United States since global currency usage is a zero-sum game. When other currencies like Yuan, real, or Rupee are used in global trade, the US Dollar...
