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Canadian

Don't miss the great buy opportunity in GBPCADTrading suggestion: . There is a possibility of temporary retracement to suggested support line (1.6591). if so, traders can set orders based on Price Action and expect to reach short-term targets. Technical analysis: . GBPCAD 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 78. Take Profits: TP1= @ 1.6817 TP2= @ 1.6970 TP3= @ 1.7312 SL= Break below S2
Long
by ForecastCity
6
AUDCAD LONG OPPORTUNITYSince the AUSSIE/US DOLLAR are correlated with the AUSSIE/CANADIAN I find it to be appropriate to share both pairs with a similar idea. The Aussie certainly showed very high momentum in price action with a generous push to the upside breaking very respectable swing lows. Last time price used this level as Support we did find price pushing up without hesitation. This idea has Optimal Risk/Reward for a Swing Trade, the potential reward against the low risk is definitely worth taking the Risk ALL DAY.
Long
by RiosTrades
USDCAD hitting the support of channel | A good long opportunityPriceline of US Dollar / Canadian Dollar forex pair is moving within an up channel and now hitting the channel's support. Volume profile of complete channel is showing less interest of traders at channel's support But MACD is strong bearish and Stochastic is strong bearish so i would suggest if the MACD turns weak bearish or Stochastic gives bull cross then buy or take the long position. I have used Fibonacci sequence to set the sell targets: Sell between: 1.33413 to 1.35527 Regards, Atif Akbar (moon333)
Long
by moon333
1
Risk Events - U.S and Canadian Jobs Numbers People sometimes confuse with trading the economic numbers' reactionary price action as part of "Team Fundamental Analysis" trader. I have a better word for that: Storm Catcher. I have a dear friend who trades this way, (@itsReal307 - his handle in tradingview) unlike most people I've seen, he's done it with success. I have tried it in the past, most of my big losses came from trading this way. So, that my friend of mine, I don't know how he does it, being a storm catcher (or chaser?). I, however, am a very defensive trader, risk-averse in nature, I would avoid the storm. The price action after NFP numbers, I tend to avoid and stayed on the sidelines, especially if it is against my technical bias and/or against the bias I've determined analyzing the underlying sentiment of the currencies involved (i.e I am bullish bias for USDCAD but the jobs number for the U.S is negative). I believe risk events like NFP, are a great hunting ground for the institutional to stop hunts/manipulate the price/ensuing liquidity runs, hence if you do not know what you're doing (like my friend who does), stay away from trading this at least after 30 minutes of the number's release. In this chart, showcases how my technical bias contradicts the jobs numbers. I stayed on the sideline for 30 minutes, which in this case, no bullish trigger warranted me to go Long until the following Monday. Risk Events provides liquidity but with the spreads tend to widen and slippages tend to happen, it's best that you just stay away from this risk event.
by sufiansaid
CADUSD broke out the triangle but a strong resistance aheadThe price action was moving within a symmetrical triangle and after hitting the support it made double bottom at the support of triangle. In the meanwhile the price line had also completed the formation of gartley and entered in potential reversal zone moreover the volume profile is also showing a very low interest of people to trade below that area. The double bottom formation and potential reversal zone of gartley and low interest of people as per volume profile produced a powerful bull thrust so the price action broke out the resistance of the triangle. Now the price action is moving up the trader's interest is too high between 0.382 to 0.618 fibonacci (upto $78.50), and above @78.50 can be a strong sell area coz. The pivot resistance is above the strong sell area. And we have a pivot point beneath the price action which can pull down the price action after hitting the area between 0.382 to 0.618 fibonacci of A to D leg of gartley. But the final decision can be made when the price action will be entered in 0.382 to 0.618 fibonacci after that we need to see the movement of price action and all indicators if they will give bearish signals then we can sell. Regards, Atif Akbar (moon333)
by moon333