Sell the support breakout.
Hello Traders! Suggest you, take a look at the USDCAD (6C) currency pair, in terms of the Elliotte Waves, Fibonacci, Market Profile, Volume, Cluster&Delta analysis! We hope that our modest work, will help many traders in the World to find the way of truth in future market prices! (We are sure, that you can predict better, than this one) Have a Nice Trades &...
Here's a bit of a drill down to the 1H to analyze the current market structure. USDCAD trade analysis on the daily chart Wait for for C wave of minor degree completion to go for a possible short, what could be a possible 3rd wave of a 5 wave sequence down.
Trading idea on 1h chart: Short USDCAD – sell at role reversal line After an impressive run USDCAD seems to be exhausted and needs at least a larger consolidation. -price broke under support line at 1.2670, which now is resistance (= role reversal) AND -price on 4h chart is under 20EMA, so for me on that time frame it is not more in an uptrend Often the price...
THIS IS VERY SIMILAR TO MY RECENT EURUSD TRADE SETUP. NICE DEFINE STOP, WITH CLEAR TARGET AT THE TOP WHERE STRUCTURE HAS FAILED TO BREAK THROUGH TWICE. I'M MORE CONFIDENT OF THIS PAIR BREAKING STRUCTURE AFTER A SHORT PULLBACK BECAUSE OF THE PREVIOUS PRICE ACTION. WE HAD 3 LOWER LOWS (LL) AND NOW A HIGHER HIGH (HH). EVEN WITH THE LOWER LOWS, THE STRENGTH OF THE...
LIKE MOST OF THE PAIRS, I'M LOOKING FOR THIS TO FALL A BIT AND RISE, HOPEFULLY IF I GET SIGNALS I CAN GET ALL 3 MOVES. I'LL HAVE TO DETERMINE THE THIRD MOVE AFTER. FOLLOW UPS IN COMMENT!