Double 1D Bull divs
Huge SFP at the low and liquidity taken of eager buyers at the equal lows
Set limit buy oders at m5 price inefficiencies
Look to add on a HL, if SR rejects price, or on a flip of SR if successful through it
Equal highs, range highs would be target
I have seen many things in my time but this bearish trend is beyond ridiculous, at some point price will need to spike up to fill some of the missing gaps in the trend.
I would expect a continued bearish lure to start the week before we push up impulsively to my levels marked.
I would assume the majority of the market would have been rushing to sell USDCAD after it showed a bearish start at open, not to mention the so-called head and shoulders pattern break. I think the price has come up to wipe out the impulsive sellers ready for the true move to the downside, lets see how things go. We must bear in mind that today is a UK bank holiday...
USDCAD has reached the strong support Line.
It's good to buy now?
Let's see the previous price. We have same history of price before (Feb 2018)
We can use Buy opportunity.
Use the lower time frame to identify candle stick bullish confirmation.
If you have any idea, leave comment below and give like.
message me or hat for discussion.
We had a huge run on stops yesterday using the market exucse of the Johnson & Johnson issue. This has now set the tone for the rest of the trading week. USDCAD should collapse after retracing slightly to collect orders.
USD CAD is only going down to me, both through technical and fundamental reasons.
Technical you can see that 1.26 is a key level and is a nice round number, you can also see marked out by my yellow boxes where price has touched and respected this level, so when it touched it bounced!
Fundamental, The economy is f@cked and the amount of money the US are printing...
This could be a perfect entry for a long term short to 1.19.
USDCAD broke the long term (2008 to 2020 peak) 0.618 level and closed bearishly below it. Price has now come back to retest the level. After wicking into it, the level was wicked through but closed very bearishly (red arrow). Next major support is 1.227 (200 pips away).
In this video, I explain why I think we could be in for a swing to the downside for this pair and see price take out the previous lows and eventually reach 1.19000.
Thanks for watching!
Leave a comment if you agree, disagree or have any questions:)
This has retraced nicely to the point I marked out in my previous analysis for the pair. This is a good shorting entry to the target of 1.22500 with SL just above the resistance level. MACD is still below 0 so that signifies this is still bearish and EMA's are very close to crossing but I expect this to drop from here.
This has broken below a support, it now offers a chance to short this further but we need to see a retrace first for an opportunity to enter the trade. A retrace to at least 0.382 Fibonacci is required, then if and when it rebounds the short can be entered with a target of 1.22500 with SL just above the support level.
We are caught in an ugly range on this pair, we are currently trading at a key supportive region which is most likely going to be stop hunted.
I would like to see a push below support into the liquidity pool marked before rejections to the upside.
We need to monitor the DXY constantly to see whether or not this move will be valid next week.