OANDA:USDCAD   U.S. Dollar / Canadian Dollar
USDCAD has aggressively collapsed for sometime now and it needs correcting as soon as possible. We can expect buyers to be coming in at full force to try and get USDCAD to test the next resistance area marked on the chart as that area has never been tested before in past week. My expectation is that price will continue to range for a longer period of time and then it will break through the range box and the fractal high to then come back down, retest the range box as a support then go back up. Hope this idea helps and good luck traders :)

Comments



Very similar outlook just analysed differently mate. Nice chart mate
+2 Reply
Envious_ stoko29
@stoko29, Thank you buddy same applies to your analysis too, this could be a major move and this would top of my week. GBPCHF hit tp for me 1:4 going well for the last two weeks :)
Reply
stoko29 Envious_
@Envious_, I've been watching this for a couple of weeks now. I'm in to deep to miss this potential push lol. Congrats on the 1:4 that's amazing. Was up 2% last week and now down 4% but it happens, we learn, grow and go again :)
+2 Reply
Envious_ stoko29
@stoko29, 100% keeping consistent and if many more weeks turn out this good Im going to try FTMO hoping to pass :). This one I will keep an eye on too do not want to miss out on this amazing trade potential.
Reply
stoko29 Envious_
@Envious_, Wish you every success with your FTMO once you take it. Hope it goes well and you smash it.
+1 Reply
Envious_ stoko29
@stoko29, Thank you buddy appreciate the comment :). Hope this trading month goes well for you too.
Reply
Greets!!! this morning I opened a couple buy positions on USDCAd, in hoping it will go up this time, cuz it's be to down for to long now, but I still have my fears, cuz it kicked me out last week, but now since I have seen your set up, I am more confident that it will shoot up.

wishing ya successful trading.
+1 Reply
Envious_ MALI777
@MALI777, Greetings to you MALI, I am praying for this move too and hoping the best for our trades. With trading try not to let your fears get the best of you, have a good stop loss that takes 1% risk and set tp for something higher then relax and go do something for the day is what I do. I am glad to hear that the setup has helped you :) and thank you for the wishes.
+1 Reply
stoko29 Envious_
@Envious_, wise words, completely agree.
+1 Reply
@Envious_ THANK YOU, for the wise words.
I will really try hard to stop letting my fears get the best outta me, I have lost lots of money and good opportunities in the market, just because of fearing it might fail or so & so.
+1 Reply
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