Usdcadshort
#USDCAD 1HSell Opportunity: USDCAD 1H Chart
Pattern: Rectangle Resistance
Description:
On the 1-hour chart for USDCAD, the currency pair is showing a classic rectangle pattern at the resistance level. This pattern is characterized by a consolidation phase where the price oscillates between well-defined support and resistance lines, forming a horizontal channel.
Currently, the price is approaching the upper boundary of this rectangle pattern, which acts as a resistance level. This is a typical sell opportunity as the market is expected to face selling pressure upon hitting this resistance.
Traders should consider entering a sell position as the price tests this resistance area, with the expectation of a potential reversal or pullback. The ideal strategy would be to set a stop-loss just above the resistance level to manage risk, and look for a target within the rectangle's support range.
Keep an eye on additional confirmation signals, such as bearish candlestick patterns or momentum indicators, to validate the sell setup and increase the probability of a successful trade.
USD/CAD Short Trade Idea (1H Timeframe)Overview : We're currently observing a potential short opportunity on the USD/CAD 1-hour chart. The pair has been trading within a rising wedge pattern, which is often considered a bearish reversal signal. The price action is now showing signs of weakness near the upper boundary of this wedge, suggesting that a downside move could be imminent.
Trade Setup:
Entry: Current market price, anticipating a breakdown of the rising wedge pattern.
Stop-Loss: 0.00368 (0.27%) above the entry point, placed just above the recent resistance level. This level serves as a safe buffer in case of a false breakout.
Take-Profit: 0.01105 (0.82%) below the entry point, targeting the previous major support zone. This gives us a solid Risk/Reward ratio of 3:1, ensuring the potential reward significantly outweighs the risk.
Risk Management: The position size is calculated to limit the risk to a manageable level, with a total of 36.8 pips at risk (Amount: 750). The potential reward for this trade is approximately 110.5 pips (Amount: 1750.68).
Rationale: The rising wedge formation indicates a possible trend reversal. Combined with bearish divergence on momentum indicators (if applicable), this setup provides a compelling case for a short entry. The stop-loss is strategically placed above a significant resistance level to protect against a sudden upward move, while the take-profit target aligns with a key support zone, offering a favorable risk/reward ratio.
Note: As always, ensure proper risk management and consider market conditions before entering the trade. Happy trading!
Why is the Canadian Dollar Outperforming Expectations?A Deep Dive into the Unexpected Resilience of the CAD
In a landscape marked by economic uncertainty, the Canadian dollar has defied the odds, exhibiting remarkable resilience. This unexpected strength is a result of a complex interplay of factors, including the Federal Reserve's monetary policy, market dynamics, and global commodity trends.
The Federal Reserve's Pivotal Role
The Federal Reserve's shift towards a more accommodative monetary policy has been a key driver of the CAD's rally. The Fed's hints at potential rate cuts, especially in response to a weakening labor market, have weakened the U.S. dollar, boosting the appeal of other G10 currencies, including the CAD. This has created a favorable environment for the Canadian dollar, as investors seek higher-yielding alternatives to the U.S. dollar.
Short Covering and Positioning Dynamics
Another significant factor contributing to the CAD's strength is a wave of short covering. Traders had previously bet against the CAD, anticipating a divergence between the easing cycles of the Federal Reserve and the Bank of Canada. However, as the U.S. dollar weakened and the CAD began to rise, these short positions became increasingly unsustainable. Traders were forced to unwind their bets, adding momentum to the CAD's rally.
The Impact of Rising Oil Prices
Canada's significant oil exports make it particularly sensitive to fluctuations in oil prices. The recent increase in crude oil prices, driven by geopolitical tensions and potential supply disruptions, has provided a further boost to the CAD. As a major oil producer, Canada benefits from higher oil prices, which can lead to increased exports and a stronger currency.
Assessing the Risks and Challenges
While the CAD's rally has been impressive, it is important to acknowledge the potential risks and challenges that could undermine its momentum. The Bank of Canada's rate cuts, although expected, could narrow yield differentials and put pressure on the CAD. Additionally, ongoing global uncertainties and subdued risk appetite could limit the loonie's upside potential.
Key Data to Watch
Several key data releases will be closely monitored in the coming weeks. Canada's GDP data will provide insights into the health of the Canadian economy and could influence the Bank of Canada's policy trajectory. Meanwhile, U.S. economic reports, such as PCE, will be watched for potential shifts that could affect the USD/CAD exchange rate.
Conclusion
The Canadian dollar's unexpected resilience is a testament to its strength in a challenging economic environment. While the current momentum is positive, investors should remain cautious and closely monitor key economic indicators. By understanding the underlying factors driving the CAD's rally and assessing the potential risks, investors can make informed decisions about their currency exposure.
USD/CAD Made H&S Reversal Pattern , Short Setup After Closure ?This Is An Educational + Analytic Content That Will Teach Why And How To Enter A Trade
Make Sure You Watch The Price Action Closely In Each Analysis As This Is A Very Important Part Of Our Method
Disclaimer : This Analysis Can Change At Anytime Without Notice And It Is Only For The Purpose Of Assisting Traders To Make Independent Investments Decisions.
USD/CAD Fully Closed +500 Pips 0 Drawdown , New Update Now !This Is An Educational + Analytic Content That Will Teach Why And How To Enter A Trade
Make Sure You Watch The Price Action Closely In Each Analysis As This Is A Very Important Part Of Our Method
Disclaimer : This Analysis Can Change At Anytime Without Notice And It Is Only For The Purpose Of Assisting Traders To Make Independent Investments Decisions.
USDCAD Trendline Breakout Ready for a Long SellHello Traders
In This Chart EURUSD HOURLY Forex Forecast By FOREX PLANET
today EURUSD analysis 👆
🟢This Chart includes_ (EURUSD market update)
🟢What is The Next Opportunity on EURUSD Market
🟢how to Enter to the Valid Entry With Assurance Profit
This CHART is For Trader's that Want to Improve Their Technical Analysis Skills and Their Trading By Understanding How To Analyze The Market Using Multiple Timeframes and Understanding The Bigger Picture on the Charts
1:10 RISK TO REWARD SELL SETUP FOR USDCADCore Analysis Method: Smart Money Concepts
Here’s a detailed breakdown of the analysis based on the Smart Money Concepts methodology:
😇 7 Dimension Analysis
Time Frame: 15M
Swing Structure:
The structure is currently bearish, with multiple Breaks of Structure (BOS) confirming the downtrend. The price has mitigated Inducement and is now undergoing a corrective swing move.
Only the extreme Sell Order Block (SOB) is identified as the Point of Interest (POI) in the Premier zone, making this area highly attractive for sellers.
This area has also served as a Resistance or Demand zone for sellers in the past, adding to its significance.
Pattern:
🟢 Chart Patterns:
To be assessed once the price reaches the POI.
🟢 Candle Patterns:
Will be updated upon the price reaching the POI.
Volume:
🟢 Significant volume is observed in the selling areas, indicating strong selling interest.
Momentum RSI:
🟢 The RSI is in the super-sell zone, indicating strong bearish momentum. Although there is an attempt at a range shift, it’s not confirmed yet, and the bearish sentiment still dominates.
Volatility Bollinger Bands:
🟢 The volatile move is about to conclude, and the market may require some time to cool down before the next significant movement.
Strength ADX:
The ADX indicates that sellers are firmly in control, supporting the bearish outlook.
Rating: ⭐⭐⭐⭐ (4 Stars)
Probability: 60%
The setup shows a moderate-to-high probability, but confirmation from patterns and additional indicators could increase this further.
✔️ Entry Time Frame: 15M
✅ Entry TF Structure: Bearish
☑️ POI: Extreme unmitigated OB
💡 Decision: Sell Limit
🚀 Entry: 1.3678
✋ Stop loss: 1.3686
🎯 Take profit: 1.3602
😊 Risk to reward Ratio: 10 RR
🕛 Expected Duration: 2 Days
SUMMARY:
The analysis suggests a strong selling opportunity on the 15-minute timeframe, with a sell limit entry at 1.3678. The stop loss is tightly set at 1.3686, providing a high risk-to-reward ratio of 10:1, with a take-profit target at 1.3602. This setup is favored by the current bearish market structure and the significant volume observed in selling zones. While the momentum is still bearish, the upcoming price action near the POI will be crucial in confirming this trade's potential. Monitoring the formation of chart and candle patterns at the POI will be essential for executing this setup effectively.
USD/CAD 2 Entries +170 Pips 0 Drawdown, New Entry To Who Missed This Is An Educational + Analytic Content That Will Teach Why And How To Enter A Trade
Make Sure You Watch The Price Action Closely In Each Analysis As This Is A Very Important Part Of Our Method
Disclaimer : This Analysis Can Change At Anytime Without Notice And It Is Only For The Purpose Of Assisting Traders To Make Independent Investments Decisions.
USD/CAD is heading to 1.38(8/16/2024)After a long correction from 1.395, USD/CAD finally settled on the 1.37 zone where the bullish OB and Fib 0.382 exist.
in our view, the price made a falling wedge (reversal pattern) with 5 legs. yesterday the price finally broke out of the falling wedge.
We believe the price will eventually reach the 1.38 zone and then 1.385.
Our technical view has been shown in the chart.
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Thanks For Reading
Team Fortuna
-RC
(Disclaimer: Published ideas and other Contents on this page are for educational purposes and do not include a financial recommendation. Trading is Risky, so before any action do your research.)
More sensitive than my girlfriend..More sensitive than my girlfriend...
She's touching her most sensitive parts of liquidity...
If you don't take advantage of opportunities then what are they for?
Your strategy is god's tool, take care of it.
Here is my projection, the details are up to you!
Keep it Simple!
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USD/CAD +100 Pips 0 Drawdown , New Entry Valid To Who Missed It This Is An Educational + Analytic Content That Will Teach Why And How To Enter A Trade
Make Sure You Watch The Price Action Closely In Each Analysis As This Is A Very Important Part Of Our Method
Disclaimer : This Analysis Can Change At Anytime Without Notice And It Is Only For The Purpose Of Assisting Traders To Make Independent Investments Decisions.
usdcad buy signal. Don't forget about stop-loss.
Write in the comments all your questions and instruments analysis of which you want to see.
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P.S. I personally will open entry if the price will show it according to my strategy.
Always make your analysis before a trade
USDCAD top-down analysis Hello traders, this is a complete multiple timeframe analysis of this pair. We see could find significant trading opportunities as per analysis upon price action confirmation we may take this trade. Smash the like button if you find value in this analysis and drop a comment if you have any questions or let me know which pair to cover in my next analysis.
11 RR Sell Setup for USDCADCore Analysis Method: Smart Money Concepts
Based on the Smart Money Concepts methodology, we have identified a strong demand zone on the daily timeframe, which has once again given a strong rejection, changing the price character from bullish to bearish on the H1 timeframe.
😇 7 Dimension Analysis
Time Frame: H1
Swing Structure:
Bearish CHoCH from higher timeframe zone rejection.
Took inducement and now ready for a corrective swing move with its 1st pullback.
Internal structure turned bullish for a correction towards extreme and decisional POI (Order Flow or Order Block).
Preferred POI: Order Flow in the Premier zone of the swing.
Entry Model: Regular SMC.
Daily Resistance: Supply zone where sellers still have full control, with the 3rd breakout attempt failure.
Pattern:
🟢 Chart Patterns:
Reversal: Head and Shoulders pattern is clearly visible and completed.
🟢 Candle Patterns:
Observed multiple reversal candlestick patterns on the daily timeframe, including Doji, Long Wick, Engulfing, and Dark Clouds. These patterns indicate strong bearish momentum at the level.
Volume:
🟢 Very massive volume observed on the daily timeframe right before and after rejection, with the price reacting bearish. This is a strong indication for a sell position.
Momentum RSI:
🟢 Price is in the bullish zone yet, but strange things are noted in terms of momentum on the daily timeframe.
🟢 Strongest 3-candle divergence and loud moves.
According to Andrew Cardwell's method (used for momentum analysis with RSI), loud moves are almost 90% confirmed moves.
Volatility Bollinger Bands:
🟢 After one of the longest contraction phases, the breakout to the upper side was unable to give the expected move and was rejected after a squeeze breakout.
🟢 Walking on the band took a rejection with a head fake, indicating strong bearish control here.
Strength ADX: Neutral
Rating: ⭐⭐⭐⭐⭐
Entry Time Frame: H1
Entry TF Structure: Bearish CHoCH
POI: Waiting for mitigation
Decision: Sell limit order with extreme risk (as per my money management strategy).
🚀 Entry: 1.3855
✋ Stop loss: 1.3955
🎯 Take profit: 1.2818
😊 Risk to reward Ratio: 11 RR
🕛 Expected Duration: 45 Days
SUMMARY:
Based on the comprehensive analysis using Smart Money Concepts, a sell limit order at 1.3855 with a stop loss at 1.3955 and a take profit at 1.2818 is recommended. The setup shows strong bearish indications across various parameters, making it a high-probability trade. The expected duration for this trade is 45 days with a risk to reward ratio of 11 RR.
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