Get started

CAD

Watching USDCAD for a sell: 250 pip potentialGoing to keep it short. The Monthly, Weekly, and Daily Trends are all still bearish. I think USDCAD is trying to make a run for the 2019 Low (green line) There should be TONS of stops sitting there as people bought the cup and handle on the monthly chart back in Jan/Feb. With this as my target, we could be seeing a run up for some liquidity. We will have a double bottom completing at an untapped point of control. So I'm looking to retail traders to go long right into the hands of institutional sell orders. The entire move would also be a impulsive bearish crab. The sell zone for that pattern is the light blue. Observing for now, with elections approaching nothing is off the table. I am bearish on the dollar currently but things can change quickly in these current conditions. I like the fact this patterns take profit would be an ABCD that completes exactly at the 2019 low.
by elevatedinvestor
USDCAD: Fib.Analysis & Key Levels it looks like USDCAD finally broke below the major rising trend line. sellers show their willingness to push lower. here are the next goals: 1.30 - 1.31 zone is the first support. it is based on structure and 618 of the major bullish weekly leg. 1.28 - 1.29 zone is the second support. it is purely based on structure. it looks like the market will soon reach one of these supports so we keep being bearish biased here. 1.33 - 1.34 is the closest resistance cluster. it is based on a broken trendline, horizontal structure and 50 of the major bullish impulse. because our key levels are quite wide, trade them only with confirmation on a lower time frame.
Short
by VasilyTrader
13