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...
I am bullish on USD Fundamentally as they are recovering well from the pandemic
I am bearish on CAD towards the American dollar as America has a stronger currency
I see a consolidation zone in USDCAD from 2015 and we arrived at the bottom of it this month, my entry was a candlestick pattern that consists of 3 candle sticks
1st candlestick must be a...
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.
We caught this trade together in the telegram group last week, price will collapse from this point all the way to the target zone, wait for a significant pullback before you get involved in the new trend.
- Price in consolidation zone, currently approaching clear support level
- Anticipating a stop hunt institutional move, fake to downside to take out retail buyers
- Then pierce back into support level and retest before measured push towards supply zone
In this video I explain the reasons behind why I think we could be seeing a breakout to the upside for USDCAD into 1.27400 and potentially further if we are having a reversal.
Thanks for watching!
If you agree, disagree or have any questions just drop a comment below :)
We can see USDCAD looking to push more to the upside
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