Ucad
UsdCad Update! Could Never Make a higher low!As you can see, we lost our ucad buy even though we traded it according to the trend! A higher low was expected and it moved up 50 pips giving a buy signal on the way up and then totally moved down!
Very Upsetting! U can see the trend structure on the chart and u can see what was expected and what really happened. I believe that this is something we can learn from!
USDCAD Analysis 1/7/19
H4 Chart
D1 chart
1/7/19 Daily bearish at support & weekly trendline
H4 also bearish but shows candle rejection near the daily support & trendline area.
Potential price will react stronger to the upside since it is nearing the daily support.
Buying will be aggressive at this area. Wait for confirmation.
UsdCad analysisOn my previous post on Ucad you see I called the move upward as the Z leg that could finally drop. if we look at the consolidation forming from mid-April we see a wxy continuation pattern being formed. this is confirmation for more upside I'm looking at equal legs to the last impulse made starting the 17th of April which puts price at 1.361xx the next important level is the ultimate high at 1.36604.
UCAD Buy on H4 minor support retestThis is an update of my general idea of the weekly move back up.
H4 closed above 1.34450 and pushed into a fresh H4 supply level, i'm counting on the rejection of this level to propel price back down to the newly formed support ( on H1 ) for a retest before finally pushing back up into the daily supply level of 1.35000.
UCAD Weekly Wick fillUcad played out as anticipated, i was hoping that it would go lower before getting into buys but the news didn't push it low enough for me to take any positions. We now have a daily confirmation of where it's going to go next so i've set up my buy limit order on the H1 demand zone, hopefully price activates it before continuing back up.
GU potential weekly moveLast week, GU broke a major demand zone and we are going to see this zone get a retest. I've analyzed this move with extra confluences.
My entry level lines up with: The weekly zone, 50% fib, trend line touches,14 EMA on the daily and M30 retest on the lower time frame.
Nothing is ever written in stone while trading, if i'm stopped out, I've marked the next best resistance level to watch out for.