USDCAD- DOWNTREND OPPORTUNITIESI marked important zones for trend and counter trend trades in USDCAD.
Waiting for entry reasons in 5 minutes timeframe.
Priceactionsprophecies
EURUSD Trade examplesFollowing up from yesterdays trades, I had a very clean entry here off the 15 minute chart once we saw an impulsive move towards the 1.12600 key level.Unable to break above the previous high. Smart money and sentiment is still bearish. Almost smashing through 1.11600 as I predicted.
How will we look moving into next week? I believe further downside is bound to occur however price may take a upside retracement for buyers remorse. I will be monitoring these key levels on the Monday Asian session. If there is one thing I would love to share with you all is setting up those key levels and finding where smart money is moving. When scalping, we only trade with the trend. Not against it. These order blocks are established by using data of 2-3 days of where I am trading. Refer to higher time frames if need be to find where the trend is moving.
I don't usually like trading the Friday close as I am not a one to hold trades very long. But this was very necessary to finish the week strong. Focusing your time and efforts on 1 pair can enhance your trading tremendously. 60-70 pips a week is all you need.
Remember this is not trading advise but purely for educational purposes.
Have a great weekend everyone.
Lets go get it !
USDCAD: TO 1.45000!USDCAD: broke below 1.39750 key psychological and snapped back above support (fake out). Price managed to close off a strong daily candlestick which engulfed six days of daily price action (notice the size of the daily engulfing).
Scaling down to the 4hr time frame we can see price ranging between 1.39500-1.45000. Also notice how price broke above this down trend and is on the way to retest support, the trendline, 61.8% fib retracement, and 1.39750 quarterly psychological zone. If price shows any signs of rejection or manages to maintain above this zone, then look to buy USDCAD to 1.45000 key psychological zone. However, if we violate this zone then we must reevaluate price action. Due to uncertainty of market fluidity, risk management is highly recommended.
DT, H&SThis pair should complete the double top which is not retesting its neckline, and from there, as we know that 90% of the time after a pair complete a reversal pattern, it will then go back to the neckline again, that movement will be creating the right shoulder, which will from there let this pair fall very heavily to complete the H&S
Expecting another fall on this babyLets see if this double top, the flag will push this price down again!!
H&SWe are expecting this pair to fall because of the H&S that has just built and we are not at the right shoulder
Can we drop to create the right shoulder???We are expecting this pair to fall a little bit to create the right shoulder before it continues to go up!!!
GBPCHF BULLISH ~H&SWe are going up based on a falling/bullish wedge and inverted head and shoulder setup that we just drew in our chart!! please use your own risk management and goodluck
