Short

USDCAD Setting up for Big Wave

Updated

Hi fellows, USDCAD is setting up for big wave. Price erasing last 5 days gain in a single day. Which means that selling pressure is so strong and USDCAD forming new top on current price in recent past weeks. Before entering in the market watch for pullback on lower time frame and then look for sell. Follow me on lower time frame for pullback. This trade setup has a huge potential.

Note

Watch for TCP fellows

Note

TCP is forming on lower time frame like 1hr currently it looks like sharp to the upside so let it complete it self then look for sell.

Note

Here is the update fellows. It is forming TCP it needs some time.

Note

Trend continuation pattern is developing one more upside move is possible here is the update fellows. Be patient and market time to complete the pattern formation. As long as price gonna stay below the impulse setup is valid.

Note

Bears gaining momentum watch for strong breakout on previous low.

Note

If price close above the previous high then it will change the pattern formation. TCP is about to complete. Watch TCP top here is the update.

Note

Watch for strong break out today. If we dont see strong breakout today then one more up is possible fellows.

Note

Watch the break out fellows. Price trying to break the flag.

Note

Breaking fellows. Get ready for next job fellows. Now watch for the last low for change in pattern formation if price keep falling then good luck for further downside. In case price stop at last lowe and change the pattern formation then we will analyse the change in pattern formation.

Note

Here we got the change in the pattern formation but we are still short on it as long as price will stay under the previous high we are short on it. Current Pattern is still TCP so watch the top fellows. In case price break up then we will look for next possible pattern formation,

Note

USDCAD is in bigger correction. Soon we gonna see breakdown on this pair. If price do not break down then keep selling this pair from top keep taking small profit on bottom and if you will see that price is breaking the bottom then hold your trade up top the 1.32000. Remember selling on breakout no gonna give you good risk reward ratio so watch for sell from top. In case price break up and form new top the we will watch for impulse again from top for any selling. Here is the update.

Note

So finally price has broken down the TCP now watch for the continuation of the trend fellows. In case price gonna change the previous TCP formation then we will analyse that formation.

Note

Its time to manage the trade and wave which is on its way so good luck those who are in to this trade.

Note

If i will see another TCP formation or TRP formation i will update the idea.

Note

This pair is doing and amazing job fellows. Here is the update. Watch for breakout and if do not break down then watch the top for sell.

Note

Watch for breakout. No selling on breakout. Those fellows who are holding short from top Watch for breakout. Those who are looking for sell please watch for breakout and look for another TCP. Selling form current price may give you losing trade. Good Luck fellows and enjoy the USDCAD.

Note

Breaking Further downside possible. Enjoy the USDCAD fellows

Note

I hope you fellows are in this trade and have not cut your profit early. More downside is possible.

Note

So far this pair is doing an excellent job. Watch price action under the trend line fellows.

Note

Hi fellows, So finally price is about to hit the trend line get ready for price action.

Note

Note

Wave-Trader

For Training visit.
Website wave-trader.com
Website techtradingacademy.com
Slack: wavetraders.slack.com
Telegram: t.me/Wavetraders
X: twitter.com/Wave__Trader
FB: facebook.com/WTimran

Also on:

Related publications

USDJPY Watch for impulsive breakdown

by Wave-Trader

UKOIL is back Watch for flag on 15 minute

by Wave-Trader

Disclaimer

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.