I'm opening a sell on this pair with tight SL . Many Thanks.
USDCAD, simple setup break out from the consolidation range followed by a retest + retracement. entering shorts if retest holds on the 1hr timeframe.
As you can see on the daily, the candle has run up next to the Fib 0.786 and is currently in a red candle on the 4hr chart (though it has not closed yet). As long as this downward pressure continues, should be a safe ride down to 1.2951 (but that's just my thoughts if it goes down). If however it does break above 1.3292 - well to be honest I'm not sure what to...
USDCAD / H4 / SELL OPPORTUNITY
Quick day trade. some nice confluences here. comment what you think
market is in downtrend and pullback to previous support which is acting resistance now now we can enter the trade with stops above swing high use money management good luck trade green
USDCAD has slowly lost its bullish momentum hence why we were stuck and market decided to go sideways. We formed a double top signalling a sell off to occur, which did happen. We broke the range bound box and I believe we are only going to go lower from here, I have my eyes set on 1.305.
Based on a Fib from 2016 to the low of 2017. The price bounces off the 32fib and continues down. On the daily chart there is now a small wedge forming and it is not making higher highs. Bollinger bands are tightening up and price closed below the MA. Target price 1.25470.
Kindly note what happens to the pair in each month of may during the past years, I expect a bearish wave is in process now and it will gain more momentum during May. Good Luck.
USD/CAD previous Bearish views and set-ups worked out amazingly good and the Members cashed in some impressive green pips. Previous Articles: USD/CAD (dollar/loonie) - Elliott Wave - Long Term Forecast - BUY & SELL USD/CAD-Dollar/Loonie – Bearish Break-Out – Intermediate (C) Now it looks like another Bearish Wave could be preparing, therefore, I am...
So prices are still approaching the 1.32000 Region as expected HOWEVER. I am also expecting a change in trend near this region, towards the downside target of 1.27000/1.24000 . Having said this, prices could violate our resistance region at 1.32000 and penetrate through to achieve highs of 1.34000 however I don't believe that this is probable. I see it...
USDCAD to continue lower, due to USD weakness This is the start of a series of trades setups i'll be identifying, for traders who just haven't got the time. So a trade to enter before going to bed and achieving a profit by the time they wake up. This is only a probability setup, please remember to manage your risk and ensure to know why you are entering the...
After USD/CAD has reached its lowest of the year (2017) due by the two Bank of Canada rate hikes, it has started to move within a bullish channel completing a Bearish Flag. Now the currency pair has risen to an interesting level. It has returned to the level of the first of the two Canadian rate hikes and very close to the resistance. USD/CAD to monitor (there is...
USDCAD after the strong up movement reached resistance level appointed by two highs created in July and August. We are expecting correction of last movement to the last local support near 1.2600 so we have opened short with 2 points of risk reward ratio.