The bullish structure give us the opportunity to go long with the price potentially creating based around HL area.
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Traders! if you like my ideas and do take the same trade like i do, please write it in comment so we can...
Hello and welcome to my Trade Idea of the currency pair USD/CAD.
Lets start with the Top Down Analysis.
Monthly: Monthly is bullish but due to the 2 huge bearish candles I am divided opinion. There was also a LH formed as well as a possible LL.
Weekly: On the weekly timeframe, we see because of the huge bearish candles that we are bearish. The price reacts...
If price gets to the D completion of the bat pattern & the 1.33150 zone, I will short for 140 pips
there are 4 major confluences from that level, can u spot themI
next week on usd cad be focused on a rising parallel channel.
there is high chance that we will see a bearish breakout of this channel.
If daily candle breaks and closes below the support of the channel,
we can short the market.
Target level is 1.305
USDCAD broke that support level and retest it and had that strong rejection.
It suggests that the market will continue the down direction toward the next support level.
As an alternative scenario to be taken into consideration is that if the market penetrated the resistance level, then we will buy the market, and only then I'll update this...
on 4h usdcad is approaching a resistance line of a rising channel
formation of head and shoulders pattern on 1H chart confirms the potential reverse and drop to channels support.
I have shorted the pair:
T1 - 1.324
T2 - 1.320
First, check the linked related idea...
if you have your market view, please share it in comments
Also, you can ask me questions...
Have a great day everyone!
We can open Buy in Zone because:
- Trend is mostly bullish now.
- Next resistanse is far from Buy Zone.
- Potential profit will be in 3...5 times bigger than risk.
USDCAD : STEP BY STEP BREAKDOWN
D time frame :
If U see We Break The Uptrend Line at level 1.34000 and then It Fall For Retest .
It retest Back At Trend line at level 1.34270 ( u may see The Black Box its showing the Restest Level ).
After Then Usdcad Fall , creating a new trend ( downward trend ) with Creating a Low , then fall to Support level of 1.3000...
We can see strong uptrend on USDCAD i the whole year 2018... For that reason i expect continuation this uptrend in the Year 2019.
After correction to the 50 % fibonacci retracement moved up of the Year 2018, can be possible change trend up on USDCAD right now on price level 1.30262...
50 % moved up is so near to the Point of control of the year 2018.... So there...
Hi there,
USDCAD is still with in the weekly correction and we still can see one more bullish wave before the weekly correction breakdown.
How you can trade.
Price is forming Trend reversal channel which is setting up for break up watch for the strong break up and go longe and if dont and test the bottom buy at bottom or new low.
Good Luck
The US Dollar vs. the Canadian Dollar is a very popular currency pair due to the extremely large amount of cross border trading that occurs between the U.S. and Canada. The CAD is considered to be a commodity currency because of the large amount of natural resources, especially oil, that are mined and exported to southern neighbors. The USDCAD is one of the most traded currency pairs in the world.
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