USDCAD-SELL
USDCAD Sell IdeaH4 - Price is nearing the top of the bullish channel.
We have a critical zone that has formed based on the top of the channel and the fibo levels of the cycles.
We may now expect one more push higher with the price reaching this critical zone. We may then look for bearish evidences in order to start looking for sells.
USDCAD Sell IdeaD1 - Price is moving inside multiple channels.
Currently the price is trading in a critical area where two of the channels coincides.
H4 - Two false breaks with bearish divergence.
Wait for the price to move lower and break below the low shown in the screenshot (marked in green line).
We may then look for pullbacks and sells with bearish evidences.
Invalidation: If the price moves higher and breaks above the high at 1.3170 then this setup will be invalidated.
USDCAD - SWING SETUP - 08. SEPTEMBER 2018WELCOME TO DACAPITAL TRADING!!
MONTHLY FOREX MASTER SIGNAL
4 HOUR
Strong bullish reaction of 1.27850 with pullback to previous lows
DAILY
5 Bullish days in a row, expecting a drop after the pullback now!
WEEKLY
Bearish waving market overbought right now, good shorts!
LEVELS
SELL USDCAD @ 1.29860
SL @ 1.30800 (100 Pips)
TP @ 1.27590 (230 Pips)
Easy Setup, keep holding we will update you!
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Autumn Express USD/CADThe PA on the monthly chart is headed up, but the daily bars are in a downtrend channel. So, what is its direction?
The pair is hovering for now on the top of two mid-trendlines: the daily and the weekly. It is visible on the chart that it made two attempts to cross the weekly mid-trendline and there are no clues it won't do it again and perhaps succeed. A second key element that drives us to believe that the pair is headed south is the fact that it tried three times to cross a key resistance trendline that is plotted on the yearly chart (the violet one). While a third key element is the downtrend channel that the PA plotted on the 4h chart (the orange one).
USA and Canada are two strong economies where both FED and BOC* are increasing the interest rate. One country is 'exiting' international treaties with Trump leading the battalion while the other one is siding more and more with EU and its allies. The GDP growth rate QoQ is to be released this week and the forecast is positive for both. Though the US data will weigh a lot more and so influence traders' decision. Flash news to cause again short-lived runs.
It is a tricky situation to decide whether the CAD will be stronger than the USD or not. Our goal, however, is to have a detached approach and to conclude that if there is a downtrend then shorting is not a bad idea, after all, if the price leaves the channel we can switch sides.
USDCAD Sell IdeaH4 - Price has reached the top of the channel, we have bearish divergence and false break.
Until the price is below the top of the channel, we may look for sells with bearish evidences.
Invalidation: If the price breaks and holds above the top of the channel, then this setup will be invalidated (false breaks can be neglected).