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Usdcadsetup

USDCAD SHORT OPPORTUNITY - DESCENDING TRIANGLE BREAKOUT??This is an update to the trade I posted yesterday which I am currently up +15 pips. Price seems like its forming a descending triangle pattern, with a very bearish close on the H4 at 1pm Eastern. If you did not enter the trade yesterday, please look at the analysis today for a great entry. Wait for breakout and retest to enter! My initial weekly analysis determined that a potential big down move for the USDCAD was primed for this week. It looks like it's playing out currently. Trade Analysis: Risk to reward: 3+ Technical Analysis: Descending Triangle Pattern Candlestick: Bearish candlestick with long wick and strong close Daily trade analysis and ideas: Telegram: t.me Facebook: www.facebook.com Twitter: forex_dojo Instagram: www.instagram.com Website: www.forexshinobi.com ForexShinobi
Short
by FXShinobi
USDCAD SHORT OPPORTUNITY - WILL THE DOWN MOVE CONTINUE?Price has tested the orange trendline before reversing quickly. With the higher time frames - weekly and daily being bearish, sellers are still in control. On the lower timeframe on the M5 there was a double top pattern a couple hours ago which I entered on. However it is still not too late to enter on this trade for a nice short. Risk to reward of 2.5. Not every single trade has to be a winner to make money. I had a loss yesterday on GBPUSD, so if this trade doesn't work out I'm done for the week. MAX 2 losses per week. Let's get these pips! TARGET IS THE BLUE LINE. But I'll keep you guys posted depending on what happens. Daily trade analysis and ideas: Telegram: t.me Facebook: www.facebook.com Twitter: forex_dojo Instagram: www.instagram.com Website: www.forexshinobi.com ForexShinobi
Short
by FXShinobi
USDCAD WEEKLY ANALYSIS - USDCAD PRIMED FOR BIG DOWN MOVE?Hey everyone welcome to this week's forecast for the USDCAD. As seen on the chart price has managed to close BELOW the Engulfing Bar that occured the week of Sept 2nd. Bulls tried to push price back up but could not close above the high of the Engulfing Bar. I see this as a signal that Bears are in control in the medium term. After a sea of green candles within the past couple of months, we finally have 2 consecutive red candles on the weekly timeframe. Bears closed strongly each time. USDCAD could be primed for a very big down move especially with the FOMC interest rate decision and the Bank of Canada interest rate decision coming before month end. October could be a very big mover for the USDCAD, right now my bias is SHORT on the weekly timeframe. But if you guys have been following me you know I will give you guys potential intraday trades during the week, these trades may be long or short stay tuned! Please comment, like, and follow if you like my ideas. I continue to try to improve every single day and appreciate any sort of feedback and discussion. Thanks for all the love and support. Daily trade analysis and ideas: Telegram: t.me Facebook: www.facebook.com Twitter: forex_dojo Instagram: Jaylen.Forex Website: www.forexshinobi.com ForexShinobi
Short
by FXShinobi
USDCAD short term: buyThe last time the pair fell to area 1.130xx area was back in 31 Jul 2019, where it was rejected. Projecting the same outcome, we have aligned a fib retracement to that price level and suggest taking short term long positions on the the upside swing. The CCI is oversold on the daily chart, which implies that a correction is in order soon. We suggest swinging up towards the 1.316xx area for pragmatic traders, and up to 1.322xx area for the more adventurous ones. Skrrt Skrrt Esketit.
Long
by TrollTrading
USDCAD- Short term uptrend before going down.Based on the wave theory, I believe there will be another 5th wave impulse before we see a continues downtrend to complete the major C wave. In this regard, we may expect a short term uptrend as the market wait for good news to take the risk out of their trade. As long as there is no clear direction between US-CHINA trade war, Bombing in Saudi and other Geo-Political issues, the investors might hold the USD as a risk creeps in the market. If you have comments regarding my chart, write it down in the comments below.
Long
by kingsanjose2011
ANALYSIS SUGGESTS A FURTHER DOWNSIDE ON USDCADIn the chart above, we could see the price breakout of a w-x-y-x-z corrective structure trendline and made an impulsive move to the downside. According to Elliot Wave theory, a three-wave correction in the opposite direction follows every impulsive move after which price resumes in the direction of the impulsive. In USDCAD's case, it seems to unfold as a w-x-y double zigzag corrective pattern in wave ii, and the price has the potential to resume lower in wave iii and extends to 1.618% of wave i. Tuesday's daily price action also close as a long tail pin bar from a resistance level; this also further validate the potential weakness in the days ahead. Minor and main invalidation levels are indicated on the chart. If price trade above the minor level, it means that the corrective structure is not yet completed and the short bias is still valid. However, movement above the main invalidation level ruined the entire setup and invalidated the bearish outlook. Thanks for reading!
Short
by Veejahbee
USDCAD - EDUCATION - 08. SEPT. 2019Welcome to our weekly market Breakdown ( USDCAD )! - 1 HOUR Very bearish price action and pressure. 4 HOUR Breaking several lows and bullish price action. DAILY Market in pullback phase, good long entries shortly! OVERALL Expecting prices to form new weekly lows on monday-tuesday and head back to average price action forming new wave highs or 50-61.8% Pullback of previous x-a wave. Will update you as soon as we have some clearer information. Good luck - Leave us a comment or like to keep our content for free and alive. Have a great week everyone! ALAN
by DACapitalTrading
6
USDCAD - EDUCATION - 25. AUGU. 2019Welcome to our weekly market Breakdown (USDCAD)! 1 HOUR Sideways waving market structure. 4 HOUR Slowly rising market with several pullbacks and low pressure. DAILY Bullish market found its resistance in my opinion. OVERALL Two very likely scenarios in usdcad this week, depending on price action on monday prices should fake a breakout either to the upside or below previous week support zone. I will update you about everything, be patient :) Good luck - Leave us a comment or like to keep our content for free and alive. Have a great week everyone! ALAN
by DACapitalTrading
4