Hello TradingView Family / Fellow Traders. This is Richard, also known as theSignalyst. Here is a detailed update top-down analysis for NZDCAD . Which scenario do you think is more likely to happen? and Why? Always follow your trading plan regarding entry, risk management, and trade management. Good Luck!. All Strategies Are Good; If Managed Properly! ~Rich
The USDCAD pair hit last week the Higher Lows trend-line from the June 08 2022 Low and rebounded but yesterday the mini rise stopped on the 1D MA50 (blue trend-line). A 1D candle closing above the 1D MA50 will be a buy signal, targeting 1.38500 (below Resistance 1). If instead it closes below the 1D MA200 (orange trend-line) and naturally the June 2022 trend-line,...
Price first gave a retest on the previously established supply zone, forming liquidity at the same time. It then preceded to break this supply with momentum and the retraced back above a POI that it left behind with a huge imbalance. Since our supply zone was invalidated, this signaled a switch from bearish to bullish pressure and this has provided us with an...
The bearish flag pattern is a common technical analysis pattern that is used by traders to identify potential trend reversals or continuation. This pattern forms when there is a sharp downward move (the flagpole), followed by a brief period of consolidation (the flag), before another downward move. In the case of the USDCAD pair, we can see that the pair has been...
After price swept trendline liquidity at the top. it mitigated our POI and then gave us a break of structure to the downside with momentum. This symbolized that price has change direction back down and is looking to take liquidity at the bottom of the trendline.
Fundamental Backdrop 1. The Employment Change which is a leading indicator of consumer spending, increased from 21.8k to 34.7k 2. Unemployment Rate maintained at 5.0% instead of increasing to the forecasted of 5.1% 3. This week's Overnight Rate is expected to maintain at 4.5%. Based on previous March 8th's data, we saw a drop of nearly 200 pips towards the end of...
Looking to sweep around 300 pips to the downside based on technical chart patterns. Use proper risk management
Hey Traders, in tomorrow's trading session we are monitoring EURCAD for a selling opportunity around 1.472 zone, EURCAD is trading in an uptrend but with current CAD positive data we can get a CAD outperformance against the EUR. so if we get any dips below the trend i would be considering a potential retrace of the trend around 1.472 support and resistance zone...
a potential inverted H&S..could see more up side once 1.4760 is cleared... **Find out more from my Tradingview Stream this week** *************************************************************************************** Hello there! If you like my analysis and it helped you ,do give me a thumbs ups on tradingview! 🙏 And if you would like to show further support for...
Hey Traders, USDCAD is trading in a downtrend, and now seems to be in a correction phase in which it is forming a bear flag and approaching the weekly 1.353 zone, if we get a decent retrace i would consider downsides toward more lows. fundamentally CAD data this period were positive and USD environment signals a less restrictive monetary policy from the fed as US...
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The best time to get long is at this point, you can get golden profit by entering the desired symbol
Hey Traders, AUDCAD is trading in an uptrend and now seems to be in a correction phase in which it is approaching the major trend around 0.89600 support and resistance zone. if bulls are confirmed i would set 0.91300 as a target as it's considered the next major resistance AUDCAD will be facing. i would also like to put an eye on the stock market since stocks...
USDCAD on the 1D chart has traded at the recent high. The price after testing the weekly support at the 1.33 level started an impulse that drive the pair to a new test of the monthly resistance with a spike. We can notice how the market turned at the 0.886 Fibonacci retracement from the previous recent high to the 1.33 level. How can i approach this...
GBPCAD on the 4h chart got rejected by the resistance area at the 1.68500 and retraced at the 0.786 fibonacci level. The Price touched the 0.886 with a spike before inverting and retesting the weekly structure. Overall the bias remains bullish and this make us think that a break of the resistance is still possible with an increasing pressure of the buyers. How...
CADJPY is trading inside a Channel Down pattern with the 1D technicals neutral (RSI = 51.739, MACD = -0.070, ADX = 39.994). Right noe the price is on the 1D MA50 and is bearish within the Channel Down targeting for its bottom (TP = 94.250). In spite of that, with a 1D RSI on HL and last time the price was on the 1D MA50 from a leg up, extending to the top of the...
AUDCAD is trading inside a Channel Down pattern with the 1D technicals bearish (RSI = 43.171, MACD = -0.004, ADX = 38.042). Even though the long term pattern is bearish, the rebound yesterday and closing over the 1D MA200 can be a bullish signal along with the HL that the RSI is on (bullish divergence). However until the 1D MA50 breaks, we cannot call for any...