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Usdcadtrade

USDCAD LongUCAD is in a clear sell on the weekly timeframe. However, the daily MACD shows the moving averages touches with a possible crossover to the upside. The 4hr shows a slight move to the upside but closely approaching the 50EMA zone at 1.311. Will look to see what price does here. Will take long position if price breaks the EMA and retests. Also, divergence on the 4HR starting at 062019 til current. Price has broken the 1HR and 15MIN EMA's but has not retested, therefore this breakout could be a fakeout. Will continue to watch price.
Long
by kmoore21
Change in market structure# Price has failed to continue making higher highs # After the last bearish move price has pulled back to and pinned the 1.34505 level # Bearish engulfing completed on D1 time frame # Moving average providing resistance as price struggles to break through Selling at market price 1.33759 with # SL above the bearish engulfing high @ 1.34505 and #TP lower down around support @ 1.31816 To learn the dynamics behind the analysis, please join my mailing list using the link below zc.vg As usual don't bet the farm. Good risk management won't kill you but the lack thereof could!
Short
by Cmasterza
USDCAD Trade Idea# Classic breakout and retest setup. Resistance popped and price came back to test as support and print a hammer (buy signal). If you switch to the daily time frame and look at the previous high its a long way to go, so with 163 pip reward the cost of opportunity of 30 pips sure is worth it! # I have bought at market price 1.34834 # Stop loss 30 pips below the hammer @ 1.34537 # Take profit at previous swing high seen on D1 @ 1.36465 As usual don't bet the farm, good risk management won't kill you but the lack thereof could :) Follow me in Forex Bootcamp using the Telegram link below for real time updates
Long
by Cmasterza
USDCAD Trade IdeaI am only looking to buy as I can see the market is currently bullish on the weekly and daily time frame. The last bullish impulse move took place and I want to see if the pullback is a correction by testing the 61.8% fibo level. IF a buy signal prints on the 61.8 retracement level (1.32611) I will open a buy order with my stop below support and targeting resistance. Don't bet the farm - always exercise good risk management :) Hit the like button if you dig it and feel free to share if you feel like it.
Long
by Cmasterza
USDCAD TA 1/7/19 SHORT to 1.28 updateUSD/CAD has broken through the ascending trend line. This is still looking like a great short. Im still personally waiting for a retest of the trend line before entering this trade. If we retest and the trend line holds as resistance then I believe 1.32 will be met very quickly, I feel long term we could be seeing this pair come all the way down to 1.28 You could take a long right now but I am currently in some amazing trades so I am going to be patient and wait for a better set up Target : 1.28 Let me know what you think!
Short
by Layne_LV
Trade idea on USDCADFX:USDCAD Price has been in a bullish rally for some time until the highs from back in June 2018 were met again but no newer highs were formed. Based on a possible swing trade on the D1 time frame I have been looking for a good (short) entry on H4, noting the bearish flag pattern emerging... I will look to sell off the previous resistance level at 1.33159 and provisionally target 1.31859 around previous support - bearing in mind that the actual pattern (bearish flag) trade would be completed BUT keeping the swing trade (short) on D1 in the back of my mind. Sell stop @ 1.33159 Take profit @ 1.31859 (provisionally) Stop loss @ 1.33451 (above recent highs) Don't bet the farm, always exercise good risk management
Short
by Cmasterza
Looking to go longUSDCAD 1. The last retest off the trend line offered a great opportunity for a buy order so I am looking to possibly do the same again 2. Price is currently on the neck line of an inverse head and shoulder pattern (retest) 3. Retest of trend line taking place as we speak I will look for: 1. A buy signal to print 2. 50ema to be broken (area of value) 3. Targeting previous resistance This setup offers a 1:2 risk to reward ratio **NB - NFP news this afternoon that may violate this setup entirely so expect heavy volatility
Long
by Cmasterza