Get started

Usdcadshort

USDCAD H4: Bearish outlook seen, further downside below 1.36000On the H4 time frame, prices are approaching the support zone at 1.3600 which coincides with the 23.6% Fibonacci retracement and graphical swing low. A break and close below this support zone would provide the bearish acceleration for a further drop to the next support zone at 1.3220. The 1.3220 support zone is in line with the Fibonacci confluence levels and the resistance-turned-support level. Stochastic is testing resistance and showing bearish divergence as well, highlighted in red, signalling a potential change in momentum.
Short
by T3-Consultancy
USDCAD - SOME MORE STOP LOSS HUNTINGIt seems like market-makers were not done fishing both BUYERS and SELLERS off the market. Price is now back to where the first STOP LOSS HUNTING took place. The following week will be very interesting. We are still SELLING USDCAD. Partial profits were taken at the 1.36400 zone - a zone which I expect to be broken for the second time next week. My TPs are still: 1. 1.29800 and 2. 1.27400 REMEMBER: PATIENCE, PROPER RISK MANAGEMENT AND HIGH LEVELS OF TRADING PSYCHOLOGY PAY IN THIS BUSINESS!!
Short
by SMCSmartSniper1
2
USDCAD LONG "early sellers doomed?"It's quite crazy every retail trader today is targeting USDxxx SHORTS & xxxUSD LONGS. This is because price has broken the retail trendline visible clearly on most USD PAIRS H4 Timeframes. However it is essential to understand that this is a game of Banks versus the Typical retail trader. On the Chart I posted here majority of people will be anticipating a SELL off meaning 'banks' would make a loss if we sold at current market price and price actually goes down. Hence I expect a bit of of a play around by the Banks potentially in the form of a WYCKOFF schematic to grab the liquidity at the POIs I marked on the chart where unlike most people I will be taking long positions to around 1.3800. At that zone I may go short if I see confirmation on smaller Timeframes but that might not be today. Please do check out my previous posts to understand why retail trading is a rigged game and you need a shift of mindset to win that is different from the herd mentality. If you found this post helpful, please share, like or leave a comment conveying your opinion as well. I have tagged my latest other posts below this idea. Happy trading.
Long
by Lawrence_G
1
USDCAD - 1.36400 ZONE BREAK SUCCESSFULThe 1.36400 zone has been broken successfully just as I said it would. Price is now going through a retracement. I still have some positions running. Partial profits have been taken yesterday. However, I'm loading some more!! The bearish move is still in progress. USDCAD is currently very BEARISH and I'm raking in all the profits as it falls. REMEMBER: PATIENCE, PROPER RISK MANAGEMENT AND HIGH LEVELS OF PSYCHOLOGY PAY IN THIS BUSINESS. Happy trading!!
Short
by SMCSmartSniper1
4