USDCAD BACK TO THE MOON??
USDCAD has been on a flight headed straight for the moon ever since Sept 21 with FOMC and the Fed's taking a firm stance on keeping the interest rates high. Visible in my analysis on the H4 TF USDCAD is still breaking highs and making bullish structure. I believe the point we are at now is a Liquidity grab as price needs to build up momentum to take off and create a new Higher High's around the 1.40000 Mark. You can clearly see a lot of activity and wicks coming off the 1.37000 level but like I mentioned those buyers will likely get swept and raided. A fresh POI for a buying opportunity is at the last clear H4 OB (HIGHLIGHTED IN GREY)
ENTRY CONFIRMATIONS:
1. H4 is continuing to break structure to the upside and entry is at 1.36000 (freshest demand level and also psych level)
2. Entry is inside the D discount when you draw gann box
3. Price can easily wipe out both sellers and buyers around the 1.3700 level and crash down to fly back up
4. Entry is around the 200 H4 MA which price hasn't fallen under since early Q3 started around early August
5. Price oil OIL has been stagnant and dropping in recent days.
6. Supply and demand set up on HTF
TRADE MANAGEMENT:
1. going for good 1:8 RR (SL 50 pips, TP 400)
2. At 1.38000 close 50% of profits, move SL 2 BE, and let the rest run to 1.40000
3. If this limit triggers be confident because it is a high probability set up and also keep in mind the momentum USD has over the CAD with oil prices stagnating and the CAD in general not doing so great.
ENTRY CONFIRMATIONS:
1. H4 is continuing to break structure to the upside and entry is at 1.36000 (freshest demand level and also psych level)
2. Entry is inside the D discount when you draw gann box
3. Price can easily wipe out both sellers and buyers around the 1.3700 level and crash down to fly back up
4. Entry is around the 200 H4 MA which price hasn't fallen under since early Q3 started around early August
5. Price oil OIL has been stagnant and dropping in recent days.
6. Supply and demand set up on HTF
TRADE MANAGEMENT:
1. going for good 1:8 RR (SL 50 pips, TP 400)
2. At 1.38000 close 50% of profits, move SL 2 BE, and let the rest run to 1.40000
3. If this limit triggers be confident because it is a high probability set up and also keep in mind the momentum USD has over the CAD with oil prices stagnating and the CAD in general not doing so great.
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