USD/CAD: Update and new analysis
U.S. Dollar/Canadian Dollar made a manipulation at 9 am U.S. Eastern Time. What I got a loss of 3.21% what I was in long from $!.3300 USD with SL to $1.3250 CAD. So, that was a manipulation pure by institutional. But right now, as I made an comment in the past analysis USD/CAD, that I re-entry in long to $1.3298 CAD, Stop Loss to $1.3224 CAD (Update) and target profit to $1.3410 CAD (Update). And also, I put a 2nd trade to long position too as I enter to $1.3280 CAD, the same stop loss and target profit as the first trade.
Now, today what happen was a manipulation by institutional that maybe the PPI gave us a bearish result and USD move to down a little. But right now, we're forming a bullish rising wedge with all potential to go to the upside.
The H4 timeframe look bullish and not bearish, as sometime institutional play the price action to make confuse for amateur or everyone who start Forex trading. So, this candlestick that occur this manipulation it's not bearish signal, it's mean only manipulation to liquidated long position when institutional know that there're bough to liquidated. and sometimes this sound like bearish side, when really it's bullish side but manipulative. So, mi both trade it's fix to my target to $1.3410 CAD. Also, I suggest to watch out the grey zone if USD/CAD doesn't pass the level $1.3388 CAD and maybe this can be to take profit.
But we're in the smart point to bought, but it's required to watch the smart point to take profit if in case that USD/CAD doesn't hit my target profit and hit $1.3380 CAD like grey zone that I draw.
Now, in Daily timeframe I found out that we're forming a possible accumulation zone in those zone, and we can to expect a movement like this.
I hope that his analysis support you very well!!!
Go to long position and beware with market trap and manipulations!!!
Now, today what happen was a manipulation by institutional that maybe the PPI gave us a bearish result and USD move to down a little. But right now, we're forming a bullish rising wedge with all potential to go to the upside.
The H4 timeframe look bullish and not bearish, as sometime institutional play the price action to make confuse for amateur or everyone who start Forex trading. So, this candlestick that occur this manipulation it's not bearish signal, it's mean only manipulation to liquidated long position when institutional know that there're bough to liquidated. and sometimes this sound like bearish side, when really it's bullish side but manipulative. So, mi both trade it's fix to my target to $1.3410 CAD. Also, I suggest to watch out the grey zone if USD/CAD doesn't pass the level $1.3388 CAD and maybe this can be to take profit.
But we're in the smart point to bought, but it's required to watch the smart point to take profit if in case that USD/CAD doesn't hit my target profit and hit $1.3380 CAD like grey zone that I draw.
Now, in Daily timeframe I found out that we're forming a possible accumulation zone in those zone, and we can to expect a movement like this.
I hope that his analysis support you very well!!!
Go to long position and beware with market trap and manipulations!!!
1) U.S. Core Retail Sales at 8:30 am (U.S. Eastern Time)
2) Canada Core CPI at 8:30 am (U.S. Eastern Time)