First post here so any feedback most welcome. There will be a much better understanding of where price is likely to go in the first couple of days this week. GREEN - Ideal Set Up RED - Secondary Set Up 1 (Green). We form a bull flag just above the current double top area to continue to the upside as we have seen over the last few weeks. If this happens...
Currently, USD/CAD is trading at 1.3539. The pair started a new down trend after breaking the support level at 1.3548. Previously, the pair was consolidating in the resistance and support levels. As the pair has already started a down trend by breaking support level, its first target price is at 1.3430 and second target price will be at 1.3358. Follow a proper...
I would like to see USDCAD slightly buy before i would think of selling this pair . Join me to receive future analysis , comments would be welcome as well as for those interested in learning are welcome.
1.37000 will be our entry point once we see a bearish price action
- UsdCad on the daily chart formed a Descending triangle which is a bearish triangle pattern - Price broke support at 1.38597 and currently hitting trendline and still heading for 200MA - The break out was missed, i am currently waiting for the daily candle to close before entering a sell - will look for a sell entry on the hourly chart with a SL just ablove the...
Time = 2H – Structure = Downtrend – Pattern = Descending Triangle – Tendency = Downtrend Price might move above slightly in-search of Clear resistance, but the trend is Downtrend GOOD LUCK ----------------------- DISCLAIMER: This is NOT an Investment Signal, Trade at your Own Risk.
this pair has broken below the neckline of the descending triangle. Shall wait for h4 or h1 to see if there's any retracement, if yes, proceed to sell down following the next wave of line drawn
Our forecast for the next week on USDCAD ------ Trading Kitchen
USDCAD seems very clear these weeks. We're waiting for the price to test 1.43 Area and take a look if there are conditions to short it. ---- Entry 1.438 (61.8 % of Fibo) and point 5 of the wave SL 1.4465 (above 0.786 of Fibo) TP 1.402 (point 4 of the Wave)
If we see weakness on DXY i marked the levels that I'm watching for lower prices. Wednesday should be very volatile for USDCAD so if the dollar shows weakness i believe we will see 1.3600 on Wednesday.
USD/CAD SELL AREA 1.4200 SL: 1.4350 TP: 1.3800
Short term long, the price will test the 61.8 level again before going down. else wait for the break out of the ascending pattern and retest to enter a trade.
Interesting setup for #USDCAD. 2 scenarios in the next few hours: if the price breaks the "little bullish channel now on 1.41 we can go short, if not we can wait for the Elliot wave (in the small channel) to be completed to go short from 1.44 area. TP1 on 1.61% of Fibo 1.38480 TP2 on 2.61% of Fibo 1.332 When the big pattern will be confirmed on these TP we can...
I have updated my chart on USDCAD. Still going short with a new channel on 4H timeframe. See initial idea here