Trend line break for USDCAD with Divergence of the dollar index. Dollar made a higher low with USDCAD made a lower low. This is going to boom. Should be an easy entry for swing traders. Day traders will have a problem getting into this.
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USDCAD should stay very bullish, but should return to this breaker. I don't want to see price fall very far below that level. Economic releases at 10am for CAD should stunt price and cap movement for the day. It'll get very dicey but this RR is worth the risk.
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This one's still tricky to me. Anticipating a 50% retrace, would prefer nothing more than that. It's important to me that the price holds firm.
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Anticipated levels I originally anticipated to be ran were ran. Price action by the Canadian dollar was fairly odd to me the last two days of the trading week. The daily chart looks odd and it ended the week bearishly. However, I think if we still get pullback from last week AND a bullish scenario such as this plays out I might be keen to really go long on this thing. There's a lot of reasoning for this to go lower, but overall price structure by the dollar makes me think that this wants to go up and take out both sides of the Friday range like it usually does.
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I'm long
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Felt as if I rushed that trade. I decided to exit and wait to see this day play out some more. I don't like trading Sunday nights, I need to acknowledge my impulsiveness and let things play out a bit more even though that position was technically confirmed. Just not "ideal."Note
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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.