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Usdcadshortsetup

Are the Bears hibernating for the USDCAD this Winter? We'll see.We will find out, the daily uptrend for the USDCAD has finally broken as it neared 2018 highs. The ema's on the Daily are still bullish but that is really the only indicator signalling potential bullish momentum right now. I'll be looking for a short entry in or near this yellow circle I've drawn. Which is also a 50-61% Fib Retracement, which is right where I like to enter. There is a also a bullish harmonic on the 1HR which looks coincides prefectly with a pullback that I think we still need to happen before going short. Setup Vitals: Daily Stochastic - Bearish (All systems go) 4HR Emas - Still have not all switch to a Short ( I will wait for confirmation) This could easily be a fake out before it continues higher so make sure to use a stop loss. I will update as it plays out further. Current Streak : 6 Wins
Short
by elevatedinvestor
USD/CAD has a Elliot wave on 4h hour chart, Here is the Proof!!!Hello ladies and gentlemen, i hope you all having a nice weekend. Today we have a post with educational idea of elliot waves. Let's observe together, i hope you will like it. Rules of Elliot waves: 1- Second wave's low is higher than first wave's low. 2- If second wave makes a sharp correction, 4th wave will make a flat correction or vice a versa. 3-If 3rd wave is the longest wave, the time length of the first wave must be equal to the time length of the fourth. 4-After the 5th wave, A-B-C correction comes and this correction will take us to C level which is very close to low of 4th wave. We are in A-B-C correction now but main problem is i couldn't define B point perfectly because market is closed right now and not sure if we were passed B point or not thats why i need to see more reaction of usd/cad to define perfect B point. Okay what will be our setup for this trade? -For a safe trade, you can wait till price breaks inclined support. Then aim 1.29610 as a target. -For a more risky trade, you can jump in from these price levels and aim for 1.29310 as a target which is very close to low of 4th wave. If you are going to decide on second trade setup, i recommend you to use less leverage for a calm trading journey. (For example 25 or 10 times of leverage) Stop loss for both trade setups: 1.30900 I hope you enjoyed with my analysis, i wanted to show elliot waves' rules in action. Please support my account by sharing and liking for more educational ideas. Thanks and have a nice weekend. Berk.
Short
by Mr_Berk
2
USD/CAD 1.618 ShortUSD/CAD made a reversal on Friday during the news. The entry already happened but you can still trade down with the new trend and jump in during retracements. Analysis -Hit 1.618% fib retracement of previous structure lows and highs -Hit the top of the channel -Created a doji on the daily chart -Also were some divergences on the hour chart showing selling pressure Exits I believe take profits could be around the 1.30-1.3050 area at the bottom of the channel. USD/CAD like to shoot up a lot and shoot right back down so I think this isn't an unreasonable target.
Short
by TradingWithCody
usdcad short 12H We have a double top followed by a one bar push down, then the projection point is immediately tested, then the longer wick shoots out further above the double top but cannot maintain any body so closes below. This makes it an ideal short because it's possible there are traders trapped to the long side which might have the effect of pushing price lower. The blue line also indicates an area where price previously had a strong push down. We have a few factors lining up here which give the short a chance. Notice my tight stop, only 30 pips because if price makes another attempt to push higher, I don't want to be in the trade.
Short
by marketdiverfx
USDCAD ShortRiding the bearish price action being played out in the weekly and daily chart, coupled with the news about Syria attack that pushed down the dollar further, while the loonie is being boosted by the likelihood of having a successful outcome in NAFTA negotiations and rising oil price. Setting up short stop order to catch a possible breakout @1.25523 in the hourly chart with TP near 1.242 (support in weekly chart) and SL a couple of pips below 1.26. www.fxstreet.com Daily: Weekly: Confidence: C (must be careful about possible whipsaws from increased volatility esp this coming Wed during the BoC meeting and the unpredictability of geopolitical risks esp when it comes to USD; depending on how volatile it goes based on the chart and ATR, might momentarily close the position before the BoC meeting)
Short
by aiza_belle
1