The trend line USDCAD has been following since the beginning of this year has broken.
1) MACD divergance
2) Trendline broken
3) Great win/loss ratio
wait for a pullback before you buy
first tp = the first yellow line
second tp = the second yellow line
sl = look at graph
The USDCAD has established a strong down trend into a descending channel pattern. Im not a fan of counter tend trades but looking at this setup warrants some interest. A break above 1.2751 creates a slight opportunity for a short term "bullish reversal trade."
Conformation:
-RSI move above 50-line
-Stochastic makes a bullish cross
My first forex is GBPJPY, but, it is going up and i miss it..
So during waiting GJ. I am scout new forex and found this USDCAD.
Maybe it will make the 1-2nd wave and going up to 3rd wave.
My plan:
IF it not Lower low than 1.26253, I am waiting to break Trend line and BUY.
After break 1.275, I will put another BUY.
Plan B:
If it going down , Let it be....
After 3 months of consecutive downing of 2,100 pips, USDCAD is ripe for a monthly uptick in may ideally from 1.2520-1.2400 to target 1,2800-1.3000. I am absolutely certain about this opportunity.
USDCAD has hit the end of my channel, expecting upward movement to the yellow line, then either back down or head towards the upper blue channel.
SL : red line
TP : Yellow line
Goodluck
