USDCAD: CURVE ANALYSIS (2D)SLO2 @ 1.3805 ⏳
SLO1 @ 1.3695 ⏳
SSO @ 1.3625 ⏳
TP1 @ 1.3485
TP2 @ 1.3305
TP3 @ 1.3175
TP4 @ 1.2975
BLO @ 1.2810 ⏳
— PA on this pair has been insane
— ALL three of our TPs were triggered, but ironically it retraced so hard that it returned back to the Supply Zone.
— Well, it's time to get paid for the second time.
— Here's a new setup
Canadian
Canopy Growth: C'mon, Do Something 👉The price of Canopy Growth is currently relatively flat. However, we believe a significant setback is needed to complete the white wave II in the turquoise target zone between CAD 0.430 and CAD 0.265, as expected. Only then should a significant move higher occur in the form of the turquoise wave 1, which should extend to around CAD 1.20. Alternatively, we see a 47% probability that the price is already in this wave. This scenario would occur if the price breaks the resistance at $0.8000 without reaching our target zone
🔥 NEW: USDCAD 🔥 SHORT 🔥RESISTANCE @ 1.3573
SLO @ 1.3570 ⏳
TP1 @ 1.3485
TP2 @ 1.3305
TP3 @ 1.3175
TP4 @ 1.2975
SUPPORT @ 1.2925
BLO @ 1.2810 ⏳
— PA on this pair has been insane
— ALL three of our TPs were triggered, but ironically it retraced so hard that it returned higher than TP1
— Well, it's time to get paid for the second time.
— Here's a new SLO
🔥 NEW: GBPCAD 🔥 DT SWING 🔥Requested by: @YOUNGMILLIONS21
SLO @ 1.7310 📉
SSO @ 1.7250 ⏳
TP1 @ 1.6725
TP2 @ 1.6235
TP3 @ 1.5875
TP4 @ 1.5325
BLO @ 1.4860 ⏳
While major moving averages are reflective of strong buying pressure, overall, the major oscillators are nearing indicating sell signals.
This could be point to Price Action being in Supply.
The RSI indicator and the MACD indicator are neutral, but the Stochastic oscillator is overbought.
STRATEGY: PIP MOVEMENT
Scalping: 10 pips
Intraday trading: 10-50 pips
Swing trading: 50-100 pips
Position trading: 100-200 pips
✨ NEW: NZDCHF ✨ LONG TERM SWING ✨SLO2 @ 0.6856 (conservative)
SLO1 @ 0.6706 (aggressive)
TP3 @ 0.6630
TP2 @ 0.6357
TP1 @ 0.5925
BSO4 @ 0.5664
BSO3 @ 0.5505
TP0 @ 0.5497 (@ Minor Resistance)
BSO2 @ 0.5452 (9m) ⏳
BSO1 @ 0.5447 (9m) ⏳
ADDITIONAL INFO:
— TP0 is our earliest TP for Day Trading
— shaving 25% from TP1/TP2
— closing ALL Buy Orders @ TP3
⚠️ Trading the All-Time Low on this pair is an extremely aggressive position to take and it increases our risk. Manage your trade accordingly. Be conservative.
BIG PICTURE ANALYSIS
🔥 NEW: USDCAD 🔥 AGGRESSIVE 🔥 Counter-Trend TradeIt appears that USDCAD could be reacting to a minor support level and pulling back to the upside before continuing the BIG PICTURE downtrend. Here's my latest setup for the Buy and the Long.
RESISTANCE @ 1.3269
SLO @ 1.3245
TP3 @ 1.3235 (closing ALL Buy Orders)
TP2 @ 1.3210 (shaving 25%)
TP1 @ 1.3190 (shaving 25%)
BSO @ 1.3166 (if Price Action pulls back to the downside)
BLO1 @ 1.3150
BLO2 @ 1.3140
SUPPORT @ 1.31246
🔥 STOP LOSS MODIFIED: USDCAD 🔥 Counter-Trend TradeRESISTANCE @ 1.3269
SLO @ 1.3245 ⏳
TP3 @ 1.3235 (closing ALL Buy Orders)
TP2 @ 1.3210 (shaving 25%)
TP1 @ 1.3190 (shaving 25%) 💰 +24 pips
+SL @ 1.3169 🚫
BSO @ 1.3166 📈 +28 pips 🤑
BLO1 @ 1.3150 ⏳
BLO2 @ 1.3140 ⏳
SUPPORT @ 1.31246
💰 TP1 is in the bag for a profit of +24 pips
💪🏾 TP2, here we come!!!!
🤑 BSO Net Equity is @ +28 pips
🚫 Stop Loss has been modified to preserve capital (see above)
✨ADD-ON: EURCAD ✨ BIG PICTURE ANALYSIS ✨SLO @ 1.6760 ⏳
TP4 @ 1.6050 (closing ALL Buy Orders)
TP3 @ 1.5185 (shaving 25%)
TP2 @ 1.4625 (shaving 25%)
TP1 @ 1.3815 (shaving 25%) 💰 +1600 pips
BLO3 @ 1.4360 ⏳ (add-on)
BLO2 @ 1.4315 ⏳ (add-on)
BLO1 @ 1.3025 📈 +1324 pips
In anticipation of price action pulling back, I've set two new Buy Orders (see above).
🔥 NEW: USDCAD...LONG 🔥 SWING 🔥RESISTANCE (major) @ 1.3550
RESISTANCE (minor) @ 1.3466
TP2 @ 1.3550 (closing ALL Buy Orders)
TP1 @ 1.3466 (shaving 50%)
BSO @ 1.3300 ⏳
The USD against the CAD has been trading in a downtrend for the past few months, and it is currently approaching the major resistance level of 1.3550. If the price respects this level, it could signal a reversal in the trend and a continuation of the downtrend retracement that began in mid-October 2022. Also, there is a minor resistance level at 1.3466, which I believe will cause a pullback, so I'm going to shave off some profit and hold my remaining position up to major resistance. Ultimately, the direction of the USDCAD will depend on market sentiment and the outcome of various economic events.
ADDITIONAL INFO:
—If the US Federal Reserve raises interest rates more aggressively than the Bank of Canada, it could put upward pressure on the value of the USDCAD.
—If the US economy continues to grow at a faster pace than the Canadian economy, it could also put upward pressure on the value of the USDCAD.
✨ NEW: EURCAD ✨ SWING TRADE ✨TP3 @ 1.4765 (closing ALL Buy Orders)
TP2 @ 1.4625 (shaving 25%)
TP1 @ 1.4466 (shaving 25%)
BSO @ 1.4375⏳
BLO @ 1.4315⏳
TECHNICAL ANALYSIS:
— The EURCAD is currently trading at 1.43431
— The moving averages are all pointing upwards, which is a bullish signal
— The RSI is in the overbought zone, which could signal a potential sell-off
— The MACD is crossing above the signal line, which is a bullish signal
Overall, the technical analysis for EURCAD is bullish. However, the RSI being in the overbought zone that could signal a potential sell-off. Based on this calculated guess, I'm going my chances with a Buy Order(see above)
HIGH IMPACT EVENTS:
— The economic outlook for the Eurozone and Canada
— The interest rate differential between the Eurozone and Canada
— Crude oil prices
— Geopolitical events
FUNDAMENTAL ANALYSIS
Interest Rates:
The European Central Bank (ECB) has raised interest rates twice in 2022, while the Bank of Canada (BoC) has raised rates four times. This has put upward pressure on the Canadian dollar and downward pressure on the euro.
Inflation:
Inflation is slightly higher in Canada. This could lead to further BoC rate hikes, which would continue to put downward pressure on the euro.
✨ NEW: USDCAD ✨ SWING TRADE ✨SLO @ 1.3770 ⏳
TP4 @ 1.3740 (closing ALL Buy Orders)
TP3 @ 1.3633 (shaving 25%)
TP2 @ 1.3566 (shaving 25%)
TP1 @ 1.3466 (shaving 25%)
BSO @ 1.3366 📈
BLO @ 1.3305 ⏳
ADDITIONAL INFO:
With CAD and USD News on the horizon, I'm anticipating another bounce to the upside before PA continues the DT.
VIDEO ✨ NEW: USDCAD ✨ PRE CAD NEWS ✨-SL @ 1.36681 🚫
SLO2 @ 1.3620 ⏳
SLO1 @ 1.3525 ⏳ (half position)
TP1 @ 1.3350
TP2 @ 1.3215
TP3 @ 1.2980
TP4 @ 1.2833
BLO @ 1.2795 ⏳
-SL @ 1.27278 🚫
00:00 PRE CAD NEWS
00:58 Boost, Follow, Comment, Join
01:40 Technical Analysis
02:54 Fundamental Analysis
05:42 Curve Analysis
07:42 News Anticipatory Trend
08:08 Risk-to-Reward
09:44 LIVE STREAM @ 05:15 PT / 08:15 ET 🔥