Get started

Usdcad1hr

USDCAD Weekly View: Remain bearishSell below 1.3180. Stop loss at 1.3600. Take profit at 1.2500. Reason for the trading strategy: We remain bearish below 1.3180 resistance (Fibonacci retracement, bearish pullback) especially with the break of our long term ascending-turned-resistance line signalling a bearish exit to be seen for a drop towards at least 1.2500 support (major swing low support, Fibonacci projection). MACD has broken a key support-turned-resistance line signalling a drop is expected.
Short
by theforexarmy
Couple of patterns on USDCADHey traders, i'm already involved in a USDCAD trade, but for educational purpose i want to share with you this setup in lower timeframe. As you can see in 4hr chart, we broke and closed below X, that invalidates our previous pattern (even though we're still in that trade) giving us reason to believe price is heading lower. Considering that, i search for selling signals down on 1hr and 15m timeframe. In 1hr chart we can see we have a nice bearish Gartley that completes at previous support that was broken. With such a small B, we'd get a inverse risk to reward ratio; that's way i would enter this trade some pips above the completion just to have a 1:1RR. In the meantime you can trade also the smaller Cypher and you could set second target up to D Gartley's completition. I'm not entering any of those cause i'm already involved, but i hope you find it useful. If you have any question, please ask. Otherwise, see you in the next chart!
Short
by Roker1
Trend Continuation trade on USDCADHi traders, not so much on my radar today, but i still want to share one of my short term analysis. As i've explained in the attached analysis USDCAD was at a decision point this week; now it seems to have decided to go up, this is easily understandable from my chart: we have two consecutive break of structure to the upside. This is enough to call it a bullish trend. Now we know from our bigger analysis that we have potential a good amount of pips until the next important level is reached, and so we want to be involved as soon as the market gives us an opportunity. For my personal trading style, i want to have always a minimum of 1:1 Risk to Reward, so i've outlined a box in wich i'll be interested in long opportunities. Besides, if you are a pattern trader, there's also a cypher pattern waiting for completion. Let's see how it goes. If you want to share your idea, don't hesitate to comment. Otherwise, see you in the next chart.
Long
by Roker1
USDCAD 1H Upcoming Trade SetupsUSDCAD has broken through two different trends on the 1H, currently back in a downtrend. We expect price to continue to S2 upon breaking S1, where it can find support at the Potential Reversal Zone before it begins a reversal to retest the 200 MA. Trade Setups: If it breaks S1 in the next few candlesticks, short to S2 Enter long at Potential Reversal Zone, aim for TP at Long TP Zone (200 MA). Partial TPs along the way if suitable. Stop losses above/below the respected levels for minimal risk.
Short
by Elemont
Benny Manieri waits USDCAD for trend continuation buy to triggerNow, I was riding the gravy train down when USDCAD was bearish. Seriously, before I was miking this pair like a cow that was in my barn. Now, we're just drifting sideways on longer-term timeframes. Still, opportunity exists. For those of you who are unfamiliar, HIDDEN divergence is used for trend continuation trades. Note the disparity between the RSI and price action around the highlighted green reversal zone. Price action is showing higher lows and RSI is showing lower lows. The white line highlights where RSI went oversold, and I will be looking for break above/close above that level to signal a buy. Although this isn't a combined technical score trade in the truest sense, I did try to keep a point total as I was stalking the trade. Make no mistake however, this IS a trend continuation trade. Stops are 11 pips or so below the low, and targets are the swing high. I'm using a single contract, although others choose to take a second out in hopes of hitting the 1.27 extension. Enjoy! Benny Manieri
Short
by BennyManieri