BUY NZDCADHello, my fellow traders hope you all are making some profits. We are here with our new analysis so that we can increase those profits for you. Let’s get into it.
As we can see, the price given a breakout and done its retest.
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CAD
Long on GBPCADHello, my fellow traders hope you all are making some profits. We are here with our new analysis so that we can increase those profits for you. Let’s get into it.
As we can see, the price given a breakout and done its retest.
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BUP GBPCADHello, my fellow traders hope you all are making some profits. We are here with our new analysis so that we can increase those profits for you. Let’s get into it.
As we can see, the price is close to its RESISTANCE. Wait for the upside breakout .
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BUY AUDCADHello, my fellow traders hope you all are making some profits. We are here with our new analysis so that we can increase those profits for you. Let’s get into it.
As we can see, the price broke from its DESCENDING CHANNEL.
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BUY ON NZDCADHello, my fellow traders hope you all are making some profits. We are here with our new analysis so that we can increase those profits for you. Let’s get into it.
As we can see, the price broke from its TRENDLINE RESISTANCE and did a RETEST.
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USDCAD - Trade idea! It's a tricky currency Loonie. (USDCAD)
Technical aspects: For now we are range bound and we must respect that.
Pattern: Triangle formation, a break to either direction for further confirmation.
Support: 1.20080 - 1.19005
Resistance: 1.21080 - 1.22000
Trade Journal
(Just a trade idea, not a recommendation)
BUY ON NZDCADHello, my fellow traders hope you all are making some profits. We are here with our new analysis so that we can increase those profits for you. Let’s get into it.
As we can see, the price is inside ASCENDING CHANNEL. One can go long after it breaks its TRENDLINE RESISTANCE.
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LONG ON NZDCADHello, my fellow traders hope you all are making some profits. We are here with our new analysis so that we can increase those profits for you. Let’s get into it.
As we can see, the price broke from its Resistance. One can go long
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SELL ON USDCADHello, my fellow traders hope you all are making some profits. We are here with our new analysis so that we can increase those profits for you. Let’s get into it.
As we can see, the price is close to its Resistance and can fall from here
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USDCAD(07:03:21)A classical downtrend pattern can be seen in the weekly time frame. A perceived USD weakness might keep the USDCAD bears in full control this week. A closer view to the 1H time frame shows the classical double top pattern, a bearish pattern. I would likely bet on a bearish continuation this week.
💡 Don't miss the great buy opportunity in USDCADTrading suggestion:
. There is a possibility of temporary retracement to suggested support line (1.2665). if so, traders can set orders based on Price Action and expect to reach short-term targets.
Technical analysis:
. USDCAD is in a range bound and the beginning of uptrend is expected.
.The price is above the 21-Day WEMA which acts as a dynamic support.
. The RSI is at 58.
Take Profits:
TP1= @ 1.2745
TP2= @ 1.2770
TP3= @ 1.2845
SL= Break below S2
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EURCAD Formed Head & Shoulder For Short Trade.EURCAD is consolidating in a fixed range. Now, we may see a breakout from the consolidation pattern, as it formed a head and shoulder pattern (as shown in the chart). According to chart pattern analysis, we might see a downside in EURCAD. One can initiate short trade with risk management and stop loss.
Thank You.
Key points of the market: US Dollar / Canadian Dollar, 30 minuteOffer: sell below point 1.3010 with the first profit tick of 1.2970 and the second profit tick of 1.2955
Alternative offer: (in case of price trend change) When the price penetrates above 1.3010, the price first starts moving towards 1.3025 and 1.3040.
USDCAD - Trade idea! 4HR USDCAD Technical Analysis - COUNTER TREND TRADE.
Technical aspects:
Pattern: Small descending channel smaller term , until it's broken Bullish flag Intra day could come into play if it breaks towards upside.
Resistance: 1.31248, 1.31410, 1.31793, 1.32076
Support: 1.30639, 1.30367, 1.30048
If it breaks towards resistance area of 1.31248 I'd see the reaction of the pull back for further confirmation, would indicate a bullish flag formed and take it to the resistance zones. The way I trade I tend to scale out of my trades my main target areas are the resistance areas and last taking profit would be 0.382 Fib Retracement areas. Nice target area is that beautiful 200 EMA! Easy way to either add alert when it breaks or add an order.
However, if we do pull back within the descending channel we are in the key support area is 1.30438 and that's key area of support! Whilst trading the Loonie I do take into mind WTI Crude and of course dollar index as well.
The type of market we are in, most of my trades at this current moment of time are counter trend - which basically means I am going against the longer term trend. Which you must have a plan for, to build the right confidence you need in trading and journal it the types of trades as well is very important!
It was a very quiet week last week, which I know for some traders I've spoken to that work even within larger institutions it has been frustrating for sure! However, the way I keep myself busy on a very quiet week we must remember to be disciplined and to not over trade, but doing this I do go onto very small time frames 10-15mins time frames and my trades will be not be a swing trade in a range bound choppy market I tend to have my trades closed by the end of the day not doing as many large targets I would do if it was a swing trending market but it isn't right now.
Until we are still within these ranges, best to keep your targets small, keep to day trading until consolidation period is over and if you don't understand what the chart is indicating go to another pair currency or simply don't trade till you're comfortable to get back into the game. Usually, when I step away from the market, I don't step away and do something unproductive, I instead go for walk, exercise or I read and extend my knowledge further within the markets, there are plenty of very resourceful books based not just on markets, but on psychology aspects to help! For any further book recommendations, feel free to message or comment down below I'd be sure happy to help!
Key tip: A large percentage of trading is psychology! Have trust in yourself and your trading plan.
Have a great week ahead.
All the best,
Trade Journal (TJ)