USDCAD has approached a 'Supply Zone' the 2hr Counter-Trend line has been broken just waiting for this retest to finish and a solid rejection before going short.
-Initial Targets will be the Demand Zone. Next Targets will be the Daily/Weekly Uptrend.
-If confirmations are met and reversal patterns do form on the Demand Zone I will look to go Long.
Good afternoon traders,
Looking at an interesting setup in US dollar versus Canadian dollar with a triple top forming around 1.34 with a third attempt to trade above that level failing and pointing to a pull back lower for the pair. More recently we just had slightly weaker than expected Manufacturing data from Canada which failed to give any real boost to US...
As you can see price has bounced of strong support ( red box ) and is on its way up to our next area of strong resistance ( green box )
This should be a short trade for you and could make you around 60-80 pips, but get o quick as price is making its way up now.
I would say that if you are trading this pairing I would put a tight SL on as we have some high impact...
Good morning traders,
And welcome to a new week- our recent tradingview charts were unfortunately removed due to us breaking house rules of including our website in the title. So we are reposting this Euro Canadian Dollar setup from Friday which is still live.
Looking at short setup on Euro versus Canadian dollar as multiple technical indicators line up to show...
WE will only be entering into this trade when it breaks the trendline and gives us good price action.
After bad economic data and using price action this looks really good trades.
please trade carefully and if your are not comfortable with losing money then don't trade at all!!1
Simple bearish W pattern trade on USDCAD.
Price is rejecting this 4hr resistance zone and the fib 0.5 level has been respected. Nice wick candles forming to show this level is holding quite a few short orders.
I am targeting the Fib extension level down around the 1.32 key support zone.
I will manage this trade accordingly and move to risk free when bearish...
You can see our support and resistance zone ( red box ) that is marked out with arrows to show where this zone has been respected as support ( orange ) and resistance ( purple ) Now price is currently hanging around this zone like a drunk idiot who doesn't want to leave the bar at closing time because he has spent all night trying to hit on the bar maid who is 20...