BUY SCENARIO Pair is currently breaking above a short term trend line and I expect a duplication of the last wave up. If we get a small correction in order to improve the risk reward ratio we can jump into a buy Aiming the duplication zone where we can switch to a sell. SELL SCENARIO If the pair reached the sell zone as marked on the chart, look for a false...
USDCAD is in a corrective structure which is a 3 wave correction until now but it may go for a 5 wave correction before breaking. I'll be selling the breakout when it happens, and if you're already in the sell, I suggest you put it to breakeven in case it decides to go for a 5 wave corrective structure before the next impulse down.
There is a triple cycle completing itself on the H1 chart. If we get another false break as shown in the image below, we can look for a convergence principle - pair to gain bearish momentum by breaking the last low after the false break - and then sell the correction in order to improve the risk:reward ratio.
USDCAD SELL Entry = 1.3035-1.3008 Exit = 1.2722 Good Luck
I'm looking for pullbacks near the trend line and resistance zone on the h4 chart. I want to see a false break of a high, followed by a break below the low and then sell corrections.
USDCAD has been in a serious downtrend consistently making lower lows and lower highs and breaking short-term up trends with great bearish momentum. Knowing this we are looking at any short-term up trend as a corrective pullback that when broken will spark a continued move to the downside. This type of market will provide us with very high probable set ups if we...
2 x potential short set ups if price can pull back into the two supply zones highlighted in red. On the larger time frames, price has just touched the weekly supply zone and therefore we are looking for sell opportunities only in this market until at least until we see lower time frame supply zones been taken out. Happy trading.
Speculative sell in USDCAD. We are seeing a reversal in sentiment this am following Chinese GDP data. Oil looks firmer as does the US dollar. We are selling the USDCAD pair on a speculative basis. Possible downside target at 1.35
USDCAD has been rallying since long which is about to end nearing strong selling zones. I would expect the pair to turn from here soon. One can look for shorting opportunity based on price action. Possible price action is shown on the chart. Any comments or suggestions are welcomed. Happy Trading!! Siraj Hudda, CFTe Web: www.prowaveanalysis.com Skype:...