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USDCAD trade ideas

USDCAD Sell PositionTrade Journal Entry USDCAD Sell Time Frame: - Daily (FVG Identification) - 4-hour (Entry Signal) --- 1. Trend Confirmation: Identified a Change of Character (COC) on USDCAD by breaking the previous low at 1.3600 indicating a reversal in market sentiment and confirming a bearish trend. 2. Fair Value Gap (FVG): On the daily chart, noted a Fair Value Gap between 1.3640 and 1.3690. This gap is a potential reversal zone where the price has revisited, providing a trading opportunity for sell position. 3. Entry Signal On the 4-hour chart, an engulfing bearish candle formed after touching the identified FVG zone. This pattern aligns with the bearish trend and indicates a potential continuation of the downtrend. 4. Trade Execution Entry Price: 1.3595 SL: 1.3655 (above closest high) TP1: 1.3200 (low Jan 2024) TP2: 1.3125 (1.618 Fibonacci) Risk-Reward Ratio (RRR): 1:7 - 1:8.5 Monitoring: Check-in daily at 8 AM & 8 PM 5. Outcome: Exit Price: Profit/Loss: pips Summary: The trade is based on a bearish trend confirmed by the break of the previous low, supported by the bearish engulfing pattern within the daily FVG. --- Linarto Wijaya
Short
by Phoenix-Rise-Trade
#USDCAD 4HUSDCAD 4H Buy Opportunity The USDCAD pair is currently presenting a promising buy opportunity on the 4-hour chart. Recent price action indicates a bullish reversal pattern, with key support established around and a clear upward momentum forming. Technical Indicators: Moving Averages: The short-term moving average has crossed above the long-term moving average, suggesting a potential bullish trend. RSI: The Relative Strength Index is approaching the oversold territory, indicating that the pair may be undervalued and due for a bounce. MACD: The MACD line is showing positive divergence, reinforcing the buy signal. Key Levels to Watch: Support Level: Resistance Level:* Resistance Level: Strategy: Consider entering a long position near the support level, with a stop-loss set below recent lows to manage risk. Aim for a target at the next resistance level, capitalizing on the upward momentum. Monitor economic news and geopolitical developments that could impact CAD and USD, as they may influence market conditions. Overall, the current setup on the 4-hour chart suggests a favorable risk-to-reward ratio for a bullish position on USDCAD.
Long
by PIPSFIGHTER
6
USD/CAD Trading Analysis With Volume ProfileOn USD/CAD , it's nice to see a strong sell-off from the price of 1.36330. It's also encouraging to observe a strong volume area where a lot of contracts are accumulated. I believe that sellers from this area will defend their short positions. When the price returns to this area, strong sellers will push the market down again. The downtrend combined with the strong volume area and with strong rejection of higher prices are my main reasons for this short trade. Happy trading, Dale
by Trader_Dale
USDCAD Elliott Wavehello friends We see the formation of a clear triangle pattern in the USDCAD currency pair. Before this wave, which can be 1 or A, we see the formation of waves that overlap each other. We call these waves 2 or B, which form a clear triangle. This is a corrective wave. After breaking the bottom of the triangle and pullback, we expect the price to decrease and continue to decline. The first target is 1.3462, which is equal to 100% of Fionnachi wave 1 or A, and the second target is 1.3390, which is equal to 161.8% of wave 1 or A. Keep in mind the stop loss range of 1.3590 which is considered conservative. To support me, I recommend you install Trading View software on your phone and see my analysis and support me with your comments and Boost. Be successful and profitable.
Short
by M_Gheysvandi
1
USDCAD: Inside day, first green dayHi everyone and welcome to my channel, please don’t forget to support all my work subscribing and liking my post, and for any question leave me a comment, I will be more than happy to help you! “Trade setups, not movements” 1. DAY OF THE WEEK (Failed Breakout, False Break, Range Expansion) Monday DAY 1 Opening Range ✅ Tuesday DAY 2 Initial Balance Wednesday DAY 3 (reset DAY 1) Mid Point Week Thursday DAY 2 Friday DAY 3 Closing Range 2. SIGNAL DAY First Red Day First Green Day ✅ 3 Days Long Breakout 3 Days Short Breakout Inside Day ✅ 3. WEEKLY TEMPLATE Pump&Dump Dump&Pump ✅ Frontside Backside 4. THESIS: Long: primary, considering the dump of few days ago and the consolidation around the LOW, this market leads me thinking about a potential long setup, as well the first green day can be a good clue about that. However, right now is still inside the previous high low, means that other time frames are not involved yet, as well 9:45am PMI is on schedule! Short: secondary, the inside day, however, typically can setup for both the scenario, so I can't exclude the HOD failing (in case it will be triggered), for a short scalp back into the LOW. Please note that the purpose of my analysis is to help me and you hunting the best trade setup for the day, none of my technical aspects are a way to forecast any directional market movement. Gianni
Long
by GianniPichichero
9
USDCAD 1-Hour Timeframe In the 1-hour chart, USDCAD is approaching a significant price zone. The market is currently consolidating, with prices bouncing between two key levels: Buying Area: Around 1.36000 – This zone could serve as a strong resistance, which buyers need to break for a bullish continuation. Selling Area: Around 1.35400 – A critical support level that sellers may aim to test if the price rejects from the buying area. The upward trendline within this range shows that buyers still have strength, but a breakout from either direction will determine the next move.
by FourtradesTV
USDCAD H4 | Bearish Reversal Based on the H4 chart analysis, we can see that the price is rising toward our sell entry at 1.3583, which is an overlap resistance and a 50% Fibonacci retracement. Our take profit will be at 1.3517, a pullback support level close to 61.8% Fibonacci Retracement. The stop loss will be at 1.3648, a swing high resistance level. High Risk Investment Warning Trading Forex/CFDs on margin carries a high level of risk and may not be suitable for all investors. Leverage can work against you. Stratos Markets Limited (www.fxcm.com): CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 62% of retail investor accounts lose money when trading CFDs with this provider.You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money. Stratos Europe Ltd, previously FXCM EU Ltd (www.fxcm.com): CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 59% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money. Stratos Trading Pty. Limited (www.fxcm.com): Trading FX/CFDs carries significant risks. FXCM AU (AFSL 309763), please read the Financial Services Guide, Product Disclosure Statement, Target Market Determination and Terms of Business at www.fxcm.com Stratos Global LLC (www.fxcm.com): Losses can exceed deposits. Please be advised that the information presented on TradingView is provided to FXCM (‘Company’, ‘we’) by a third-party provider (‘TFA Global Pte Ltd’). Please be reminded that you are solely responsible for the trading decisions on your account. There is a very high degree of risk involved in trading. Any information and/or content is intended entirely for research, educational and informational purposes only and does not constitute investment or consultation advice or investment strategy. The information is not tailored to the investment needs of any specific person and therefore does not involve a consideration of any of the investment objectives, financial situation or needs of any viewer that may receive it. Kindly also note that past performance is not a reliable indicator of future results. Actual results may differ materially from those anticipated in forward-looking or past performance statements. We assume no liability as to the accuracy or completeness of any of the information and/or content provided herein and the Company cannot be held responsible for any omission, mistake nor for any loss or damage including without limitation to any loss of profit which may arise from reliance on any information supplied by TFA Global Pte Ltd. The speaker(s) is neither an employee, agent nor representative of FXCM and is therefore acting independently. The opinions given are their own, constitute general market commentary, and do not constitute the opinion or advice of FXCM or any form of personal or investment advice. FXCM neither endorses nor guarantees offerings of third party speakers, nor is FXCM responsible for the content, veracity or opinions of third-party speakers, presenters or participants.
Short
by FXCM
USDCAD VIew!!The Canadian dollar steadied against its U.S. counterpart on Friday as domestic data showed retail sales rising more than expected in July and despite the greenback notching gains against some other major currencies. The loonie USDCAD was trading nearly unchanged at 1.3560 to the U.S. dollar, or 73.75 U.S. cents, after moving in a range of 1.3543 to 1.3589. For the week, the currency was up 0.2%. Canadian retail sales grew by 0.9% in July from June, eclipsing forecasts for a gain of 0.6%, while a preliminary estimate showed sales up 0.5% in August.
Short
by FXBANkthe8055
1
USDCAD Trading IdeaBased on Simple Technical Analysis ( Trendline + Support & Resistance ) Risk Disclaimer: Please be advised that I am not telling anyone how to spend or invest their money. Take all of my analysis as my own opinion, as entertainment, and at your own risk. I assume no responsibility or liability for any errors or omissions in the content of this page, and they are for educational purposes only. Any action you take on the information in these analysis is strictly at your own risk. There is a very high degree of risk involved in trading. Past results are not indicative of future returns. Good luck :-)
Short
by ShahedZare