Waiting until the area shown breaks, then we can look for shorts. Long term i will be looking for buys on this pair as it is forming a wedge, however for a short term bias we can look for shorts here 80-120 pips with a good risk to reward, AFTER that support level is broken! .
Good probability this goes down, good risk to reward :)
Look for entries on this to the downside, great swing.
Looks like a good opportunity and we are definitely riding the trend. Prepare to have a big SL and hold
Short idea. This pair looks like will finally breakout to the downside. Will look for a set up on the smaller time frame and sell on the retest of previous structure (111.685). based on the daily structure of this pair, you can expect price to go towards 109.000 level. So i will place 2 orders and take profit on one after a 3:1 ratio around 110.300ish and let...
USDCAD HAS BEEN FORMING HIGHER LOWS AND HIGHER HIGHS SINCE FEB 2018, thus marking a 6 month uptrend. The pattern that we have here is also a bullish bat indicating an up move may be forming and also further confirming our bias is divergence, the corrective nature of the price action as well as support sitting on 1.29748 which is a monthly support level. We...
Look for buys at the 2. Given that price breaks out of this flag i would enter for a long position. Personally taking a profit at 60 pips around 1.09600 and letting another position ride for another 160 in total.