. There is still a possibility of temporary retracement to suggested resistance line (1.3825). if so, traders can set orders based on Price Action and expect to reach short-term targets.
. USDCAD is in a range bound and the beginning of downtrend is expected.
. The price is below the 21-Day WEMA which acts as a dynamic...
. There is a possibility of temporary retracement to suggested support line (1.396). if so, traders can set orders based on Price Action and expect to reach short-term targets.
. USDCAD is in a range bound and the beginning of uptrend is expected.
. The price is below the 21-Day WEMA which acts as a dynamic resistance....
- Very good opportunity to go for a short position on this pair at the reversal of the supply zone.
-Another confluences is the EMA is above price which shows bearish trend of the pair.
-Wait for a strong bearish candle at the supply zone and enter the trade.
Let's see what happens during the week!
Hello Guys, USD CAD is very interesting
- Trend is Down
- More liquidity on the downside are waiting to be hit
- small market Gap are waiting to be filled
- I expect price to retest several time before making it way down
- 1:9 Risk to Reward trade
- Risk appropriately
A good example of some due diligence here - we must be wary of ranging price action, here is a good example - we are showing a buy but as you can see we are stuck in range - a BUY STOP can be used on a new high being formed as shown.
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Our V2 strategy shows the SL and...
Recent breakdown of support line holding up a triangle which has been forming since the March rise. CAD and oil are bullish which supports further downward price action for this pair.
Looking to enter a trade on retest of support = resistance.
DYOR for entry signal at entry zone. Enter on clear signal on daily/4hourly.
This is a trade idea only, not advice.
Wait for the pullback to the resistance, to short it further down.
R:R = 4.19
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