Get started

Canadian

usdcad short risk reward 1/5Hey! Great opportunity to open short position risk reward 1/5. But! Only after one of the levels show it strenght. I do not like the dynamics of price movement. Look fundamental, was some sort of news or a statement from their central bank. For too long the Canadian dollar falls against the US dollar without any rollback. Levels 1.3260 and 1.3285 the price went without difficulty. The target in my idea is not deep below, the high probability of a reversal in my opinion. I recommend at least 1/2 of the positions close where I aim.
Short
by THG_trader
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