Hey traders, we are monitoring a selling opportunity for USDCAD at 1,242 Zone respecting the descending channel in combination with the daily strong supply and demand zone. once we will receive any bearish confirmation the trade will be executed.
remember to use good risk management especially in swing trades because the movements are more severe and...
USDCAD (SHORT)- If all the Resistance holds in place.
If we see the resistance broken out then we could see the shift in the trend.
I marked the TP 1, TP 2 , TP 3 and EXIT (SL) on the chart.
(THIS IDEAS VALID NEXT 24 HOURS)
Please refer to my related idea to get a better understanding of the long term vision for this pair.
I would love to buy this pair here but I am fearful that retail is buying heavily here leaving this area open to manipulation.
I think it would be sensible to wait for a deeper retracement before we buy up into our target area.
What do you think of this setup?
Here is my comprehensive breakdown of why bulls should re-enter the market.
We need a retracement to tackle some of the stop losses that are present from the head and shoulders pattern break out.
Once this is out of the way we can continue to trade the trend downwards.
We can buy into our sells for better profits.
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USDCAD is on my selling list since long time ago.
It provides several selling position that could be a nice sample as selling with trend.
Now sideways seems to finish or a good position to take a risk to setup a nice selling order...
1. We have reached the HIGH of the DAY and there is a SUPPLY ZONE
2. SInce we are at the HIGH we are looking for sell opportunities
3. We have CP price action towards our SUPPLY ZONE
4. TP should be at the end of CP
Point of Risk-Reduction: 1.23230
Stop-Loss: 16 pips
Risk: 0,5% -1%
LEAVE A LIKE AND A COMMENT - I appreciate every support! =)
Peace and good...
UC ranging across as expected. Currently attempting to create another higher high forming a possible rising wedge. Expecting to short it very soon. HOWEVER, be careful with this setup because CAD news happens on Wednesday (tomorrow), which means it may simple continue to range up. I would aim to move SL to BE asap and close trade if it bounces back up from the...
We are having quite strong downtrend.
At the moment wave3 /=W3/clearly pulling back at fib 1.618 and heading to wave4 /=W4/. Wave 4 might be at Fib 0.2 /1.24045/ or Fib 0.3 /1.24727/. Then it possibly retrace to wave 5 /=W5/ around 1.217.
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This post does not provide financial advice. It is for...