Update, SL hunt on previous trade, but I always use alerts instead of sl's. This is just to avoid sl hunts like this. Decent R:R, will possibly see inverse H&S form. Good luck guys!
CONFLUENCES: - Bullish Market structure - Rejection of 71% Fib Level - 1hr Spinning top candle closures
🔹 Above 1.2970 the bullish bias starts and above the trend line USDCAD should remain bullish too 🔹 1.3000 is the next resistance above 1.2790 — Any rejection from 1.2790 will make USDCAD bearish again
USDCAD looks to continue downwards movement after retesting previous support. look to sell uscad down to lower lows as dollar continues to weaken.
🔹 Below 1.2700 it is very bearish 🔹 A retest of the 1.2470 - 1.2500 zone is more likely
🔹 Below 1.2700 Level can fall to 1.2470 - 1.2500 zone 🔹 Above 1.2790 Level will remain choppy and sideways!
In theory, we've finished wave 5 of the Eliot wave and also formed an ending diagonal which usually transfers into bullish price action. However, given the Dollars ropiness over the past few weeks, breaks of the resistance or support will determine our bias.
🔹 A bearish dollar and a bullish oil price helped USDCAD to remain bearish 🔹 A pullback in the intraday is possible
The Loonie broke the weekly support and we saw a freefall below 1.30. Really cannot see the USDCAD breaking back above 1.30 now with the DXY crumbling and oil prices climbing. The only question is where the pullback ends. I've highlighted a 1hr zone of interest in yellow, where price stagnated creating a potential shelf for price to retest. However, should...
USDCAD Short position - Daily Chart Entry - 1.3016 Target - 1.2850 (166 pips) Stop Loss - 1.3091 (75 pips) Haven't published one of these in a while. I opened this trade earlier today. I was looking mostly at the current trend, price action, and the fact that price has broken multiple levels of support recently. I'm bearish generally on the U.S. dollar in the...
We could break this weekly support this week. Need a daily close below the red area.
Price formed resistance at around 1.31455 Smaller time frames tested multiple times Target 1.31108
I'm Bullish. I know, risky right? Take a look at the weekly, at the daily, this big grey area is holding like a champ. Keep an eye on 1.31100 but other than that, we should return to 61.8% given Toronto is back in strict lockdown.
Hey tradomaniacs, welcome to a new free trading-setup. USD/CAD: Day-Swingtrade-Execution Market-Sell-Order: 1,30650 Stop-Loss: 1,31185 Target 1: 1,30160 Target 2: 1,29860 Target 3: 1,29415 Stop-Loss: 52 pips Risk: 0,5% Risk-Reward: 2,43 LEAVE A LIKE AND A COMMENT - I appreciate every support! =) Peace and good trades Irasor Wanna see more?...
Clear break and retest back above this key area and we've had a bullish 4hr closure now to hopefully confirm the next phase upwards as well as it sitting on a key Fib level.
USDCAD has made a head and shoulders pattern, now price has returned to the ema 89 and neckline of the h&s, now is a good time to short to trade the next leg down in dxy.