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Usdcadsell

USDCAD Short With 2 Confluences. As we can see the price has been moving in a bullish direction for several days. We are starting to see signs of potential market exhaustion which could signal a potential reversal. There has been a change in market structure from bullish to bearish as we can see from the breakout of the key level. The entry for this trade was at the test of the key level and the target is set around the low of June. Risk reward currently stands at 1 to 5.8. Never risk more than 2% of your account on any single trade. Confluences: 1: Double Top Pattern Formation 2: Key Level Breakout
Short
by NDOBObanks
Outlook on USDCAD: Bearish play seenOn the monthly and weekly time frame, prices tested and reversed off a key resistance zone at 1.3080 with bearish order flow seen on the H4 time frame, as price broke the recent market low at 1.2920. On the H4 time frame, a pullback to the resistance zone at 1.300, in line with the graphical resistance level, 61.8% Fibonacci retracement and 61.8% Fibonacci extension presents an opportunity to play the drop to the next support target at 1.2750. This demand zone lines up with the 61.8% Fibonacci retracement and 61.8% Fibonacci extension levels. Stochastics is also facing resistance at 97.81 with bearish divergence seen which supports our bearish bias.
Short
by shermzT
USD/CAD looking for a short again | it will drop most probably USD/CAD was on watch for weeks and then we caught a heavy portion of the move down Folks it's time to catch it again On the daily Time Frame: We have our 1-2-3 ascending structure where we never broke any significant low. Now we've come back for the mini double-top within the pattern and we'll be looking to take this position all the way down again. On the 4H Time Frame: We did have a bit of an impulsive move to the upside, Market already show rejection Note: Either we do get the flag in 4h charts, in which case this will be ready for London session Monday and you'll be able to take a risk entry or a reduced risk entry. There's a good chance that it rejects and comes back up with a structure again. Keep Following Folks for more updates if you want to join our community DM. Thanks.
Short
by IndicesHustler
2
USD/CAD rally has stopped at the previous top, time to fall?Dear traders, bolstered by the increased demand for US Dollars, USD/CAD has been in a strong rally for the past two weeks. However, a bearish candlestick has appeared in the 4Hour chart, and that too in the supply zone which makes it quite significant. If the bulls fail at this level, then we can see a strong decline in price towards 1.2750. So, I will be looking for bearish candlesticks in the resistance area and sell entry will be taken between 1.3040-1.3080 with SL above resistance and TP as indicated in the chart.
by KaltoireCapital
6