BASED ON THE HTF, USDCAD forming a trading range which has strong signs of accumulation by smart money.
Here, in lower TF, I expect a reverse and start a new bearish leg right from that bearish order block which previously caused break of structure in 4h TF and also engulfing in higher scales
ATTENTION: The key of success in trading is self control and risk management and nobody knows where marker swings except market makers!!
Here, in lower TF, I expect a reverse and start a new bearish leg right from that bearish order block which previously caused break of structure in 4h TF and also engulfing in higher scales
ATTENTION: The key of success in trading is self control and risk management and nobody knows where marker swings except market makers!!
Trade closed: target reached
Hello traders, Following our previous analysis, the USDCAD pair has continued to show strong bearish momentum and has reached most of our previously identified targets. As of may 5, the pair is currently trading around 1.3421, and we believe that the downtrend is likely to continue towards our final target of 1.3389.Moreover, we have identified a potential pivot level around 1.3389, which could act as a key support level for the pair. This level is significant as it has previously acted as origin of the movement.
Considering the current market conditions and technical analysis, we recommend closing our short position at 1.3389, which is our final target and a potential pivot level for the pair but based on my view it is not a major pivot for higher scales and still CAD have potential to reach higher levels.
It is important to note that trading always carries a certain degree of risk, and it is crucial to have a proper risk management strategy in place.
Trade closed: target reached
Hello traders, As updated you guys USDCAD nicely bounced from our pivot level and i about to close my long here (where the price is at the chart above). Then, I'll wait till usd reach to ROB to open my short position. we secured around 450 pipe from 2 leg in daily TF which is amazing!
Trade closed: target reached
insane reaction from ROB area happened and org flag did the same so price moving between 2 flags as usual now expecting a liquidity hunt from the low swing and high swing
Trade active
Hello trader this is another update on #USDCAD, now we enter short position.
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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.