USDCAD - Buy setup on daily. (UPDATE)My previous analysis foresaw the current up movement. (SEE RELATED IDEAS).
This chart you can see the detail of the wave.
Good luck!
Loonie
USDCAD Triangle ShortI have had a few posts in the recent past, looking for the long side of USDCAD to formulate out of this triangle. As I mentioned in my last post, the larger time frame and pattern will eventually rule over the shorter one. Luckily, I haven't lost too much on the long side of this pair.
I'm going to look into this set up:
Pattern: 20 wk triangle
Trade: Short
Units: 26k
Basis Point Risk: 50 basis points (for now)
Entry: 1.2850 (upon close)
SL: TBD, but will use Last Day Rule
TP: 1.2029
I am fully aware of the monthly support from 1.26170 to 1.2452. I am also aware of the larger H&S pattern on the weekly chart of this pair as well, if we get PA to the downside.
Let me know what you guys think and if you're waiting for something else.
CADJPY - 5 waves down on monthly and weekly basis.I guess it will be a 4th wave up on monthly. It has already an impulse that could lead to an uptrend within weekly & daily basis.
Cheers!
USDCAD. Strength after consolidation. Target 1.2073Wedge consolidation offers a good opportunity to plan the trade.
Target = the widest part of the wedge subtracted from the break point.
USDCAD on its way to Major resistance,possible breakout Any break above this level could drag USDCAD toward the next targets
Today's news (US nonfarm payrolls)
Will likely decide the fate of the looney and whether it can break out of the 1.2900/ 1.3000 range it has been stuck in
LOONIE SHORT IN PLAYAFTER DISMAL JUNE NFP RESULT THE DOLLAR IS ON THE BACKFOOT AGAIN AND WE CAN NOW SEE RESUMPTION OF LOONIE BEARISH TREND WITH PRICE ACTION CERTAINLY SHOWING A BEARISH VIEW,. 5 PRIOR DAILY CANDLES WAS INDICATING TO ME THE BULLS ARE BECOMING EXHAUSTED WITH LONGER UPPER WICKS. EXPECTING NEW LOWS ON THIS PAIR TO KEY STRUCTURE. SELL ANY PULLBACKS IN MY OPINION.
Potential cypher on USDCADThis market prediction is just my opinions. If you agree hit the like button, or you can share your view.
GBPCAD - 5 waves up on daily + eventual 5th wave to come.Supports & Resistances on chart.
Happy trading!
USDCAD good opportunity for long-term 200 EMA above is going to be targeted, and a break above that would signify a potential long-term set up
both RSI - MA show us a bullish momentum
Of course keeping in mind the influence of Oil market
USDCAD - Trend continuation idea for daily correction.Right now price is correcting (on 4h basis) within an upward correction (daily basis) in direction of the downtrend line (on weekly basis). The idea is to trade what could be a final wave up before reaching the trend line.
Watching for a proper price action on bounce area .
Please, share a LIKE to show support.
Happy trading!
USDCAD_ Potential Bearish Butterfly Pattern Technically , beside the completion of the butterfly pattern at structure zone , the crude oil is expected to rally after the bull back and the resistance will become support level at $46.60 per barrel , this might will appreciate the loonie .
USDCAD. Downtrend broken. Targets on the chart.Hello friends!
Loonie broke above multi-month downtrend.
Target 1 = 1.3405
Target 2 = 1.4016
Target 3 = 1.4690
Best wishes!
USD/CAD Breakout of channel short term setupThe recent breakout of the loonie from an exasperatingly stretched descending channel at ~ 1.27, gives hope for some upside. This is a projection of a possible rally following a basic elliot wave path calibrated with fibonacci levels. Shortly after the open this coming week I'll wait for a pullback and then enter long as shown with target at ~ 1.32. This position will obviously need confirmation of the dollar sustaining its current rebound and the fed remaining slightly hawkish with regard to a possible June hike. Moreover, oil prices will have to remain rangebound and not see violent upswings for this setup to work.
USDCAD : tea time waitingMy first forex is GBPJPY, but, it is going up and i miss it..
So during waiting GJ. I am scout new forex and found this USDCAD.
Maybe it will make the 1-2nd wave and going up to 3rd wave.
My plan:
IF it not Lower low than 1.26253, I am waiting to break Trend line and BUY.
After break 1.275, I will put another BUY.
Plan B:
If it going down , Let it be....
Correlation Trade Setting Up Between EURCAD & USDCADCurrent spread is 550 Pips, the widest since mid June 2015.
We will be going Long USDCAD & Short EURCAD
These pairs have been 70% to 96% correlated during the past year. Since they have been recently become uncorrelated we expect the correlation to return shortly.
EURCAD is approximately 25% more volatile than USDCAD therefore your position size for EURCAD should be approximately 70% - 80% your USDCAD position size.
Our algorithm is showing an 89% chance of USDCAD rising over the next 1 - 2 weeks.
FIBONACCI MAGIC / UNCLE & SONEntering previously valid fibonacci trend zone signaling possible reversal linked up with fibonacci retracement .382 aswell as a triangle.
/Uncle & son
