USDCAD - Chart Evaluation (Weekly) - VideoPullback and UP till .786
Video: Canadian Dollar Chart Evaluation on Bigger Time Frame (Weekly chart) 12.25.2015
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Canadian
USDCAD sell set upas you can see macd is showing divergence. and is possible that price is making an abcde wedge. so if the price break down i will be selling the D wave and then if it bounce at the trend line i will be buying, but if not, i will wait for the break out of the wedge an a confirmation of falling down.
what do you think about?
Head and Shoulders Short on the GBPCADAfter looking at my GBPAUD dollar trade in the morning we noticed other head and shoulders patterns on the GBPCAD, we waited until the price broke below the resistance level and believe this trade will be completed within the next 6-12 hours.
This is a pretty simple High probability trading set up and should be a really good trade.
Trigger!
Canadian Dollar is Ready to WeakenI'm seeing signs suggesting that the Canadian dollar, which has been strengthening over the past few weeks, is now getting ready to reverse and decline in value. For many CAD pairs like AUDCAD, GBPCAD, or USDCAD, this means a long opportunity is information.
In the case of this particular chart, we are seeing hammers forming off a support level, at a 50% Fibonacci retracement level from a swing low to swing high. We are also seeing that price is above the 50 SMA and 200 EMA. I've placed my stop beneath the 50 and 200, which gives an extra barrier of protection, and am targeting resistance up at 1122. I'm risking 70 pips to gain 276, which gives me a reward/risk of approximately 3.94.
www.informedtrades.com
Canadian Dollar temporary strength You can see the clear levels as prices dropped and are now rising towards the sell zone. I'm long at this bottom edge of consolidation and will exit at the red line, then reverse and short it.
