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Usdcadanalysis

USDCAD | New perspectiveIt is important to note here how the price of crude oil is directly proportional to the value of the Canadian Dollar and if we take into consideration the OPEC+ decision a couple of weeks ago to cut down production by 2 million barrels per day; the likelihood of soaring oil price remains inevitable. The consumption of crude oil has remained steady despite consumers struggling with soaring inflation and I am of the opinion that the effect of these events will begin taking its toll on USDCAD as we witnessed multiple rejections of the C$1.4000 level in the last couple of weeks by the sellers. Will there be a sell momentum in the meantime this week? Risk Disclaimer: Margin trading in the foreign exchange market (including commodity trading, CFDs, stocks etc.) has a high risk and is not suitable for all investors. The content of this speculation (including all data) is organized and published by me for the sole purpose of education and assistance in making independent investment decisions. All information herein is for your reference only and I take no responsibility. You are hereby advised to carefully consider your investment experience, financial situation, investment objective, risk tolerance level, and consult your independent financial adviser as to the suitability of your situation prior to making any investment. I do not guarantee its accuracy and is not liable for any loss or damage which may result directly or indirectly from such content or the receipt of any instruction or notification therewith. Past performance is not necessarily indicative of future results.
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by darcsherry
1
Sell USDCADGood day, traders! Don't forget to put your thumbs up and write your comment if you like the idea USDCAD sell from 1.3800 and 1.3850. Once again tested the monthly target and, taking into account the removal and return for support in the region of 1.3800, you need to look for an oncoming lane. Further growth potential will be only with a breakdown and fixation above 1.3850. First objective standard, global objective test 1.3600 and ideally update 1.3500 DISCLAIMER: The opinion of the author may not coincide with yours! Keep this in mind and consider in your trading transactions before making a trading decision.
Short
by airstels
1
HOW TO trade USDCAD reversals 💵🍁We have an alert for a sell on USDCAD. Trading on the 30M timeframe. I'm using my POW EDGE reversal strategy for this trade idea. Little red arrow is entry point. Red trade label shows trade details. Green lines are TP and purple lines SL. Stats for the strategy can be found at base of idea. Chart shows previous trades from last week. Strategy is in a rich vein of form. Can we start this week off in the same manner last week ended. __________________________________________________________________________________________________________ What is our POW reversal script? Quiet simply our script is a reversal strategy and can be used on any instrument and time frame. POW reversal strategy sits within your TradingView and you as the user will see exactly what we see - the trade, entry price, SL and TP values. This is a mechanical trading system, Which through third party services can be automated. Our script is based on a combination of indicators with the main ingredient being RSI . As a user using the script you are able to see all available settings and what they are. The values for each setting can be adjusted to fit and suit each individual instrument as well as the time frame said instrument is being used on. We know upon changing settings if they will work on the trading instrument and the time frame being worked as we have coded in a built in strategy tester. A big overlooked not used enough feature of TradingView's pine code is the strategy tester which saves hours of time not having to manually back test a strategy. Having the data in an instant enables us to enter trades with full confidence knowing we are working a proven system. Having the built in strategy tester also doubles up as a live trading journal too as the strategy tester will confirm and support every open and closed position. We are working to a rules based approach to trading for our entry, exit and risk management. All subjectivity and emotions are removed we simply follow and execute the already tested strategy. My latest trade recap video can be seen below and gives great insight into POW tradingview pine scripts we use Thanks for looking at my idea 👍 Darren
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by pow_removetheguesswork