USDCAD Following daily downtrendShorting due to the recent double top, already begun making downward trend, just jumping on it.
Usdcadshort
USDCAD Double top formation indication short 1.2710#usdcad, 13th-17th weekly bullish bar formed double top. 20th-24th weekly inside bar range confined within the previous bar range. weekly bar 27th-1st July insurance bar. weekly chart setup indication for weakness ahead for target 1.2710. even if breaks 1.2710 then next level is 1.2570 but 1.2710 is ideal profit taking level, expecting range before break 1.2710 support level.
USDCAD DAILY!Hello Traders !
As you can see, USDCAD has a repetitive behavior on the upper trend line on the daily chart.
On the lower time frame (4H, 1H) I will be waiting for a continuation pattern for more downside.
If the price went higher, I will be focusing on taking a reversal pattern on the upper TL.
#PATIENCEISKEY #THEPRIMES #SIMPLICITY
USDCAD time to sell
after the creation of the reversal figure ''Double Top'' we wait for the break of the neckline and the closing of a candle above it after we can take the sell position
USDCAD - Daily Trade Idea - 4-Jul-22USDCAD (SHORT)- If all the resistance holds in place.
If we see the Resistance broken out then we could see the shift in the trend.
I marked the TP 1, TP 2 , TP 3 and EXIT (SL) on the chart.
(THIS IDEAS VALID NEXT 24 HOURS)
Please note this is only the Trade Idea base on S & R and not a signal, the market can react differently during the session and only enter if we have the final confirmation for entry.
USDCAD seems BearishThe market of USDCAD made fake breakout to descending trendline and now moving downside. I believe USDCAD will fall more. Better to look sell opportunity on it.
Next Move On USDCAD?Hello traders!
Lets talk about USDCAD .
Since August 2021 we can clearly see that we have an ascending channel followed by a repetitive behavior till present.
Currently the price touched a rejection point at 1.30759 and broke an ascending channel on the 1H chart signaling a reversal of the price.
When the price moved lower, it formed a bearish flag and I executed the trade.
Currently the price might be forming a bearish flag for more downside continuation.
#THEPRIMES
USDCAD Sell - Downtrend ContinuationUSDCAD Sell/Short, Continuation of Downtrend.
Entry: 1.29454
1) Has lined up with golden level 0.618 Fibonacci retracement level for recent swing high
2) Top of a short term bear flag channel and short term recent resistance
Stop Loss: 1.29834
1) Above 0.786 Fibonacci retracement level
2) Just above some swing highs on Daily Chart
Take profit (3): 1.27059
TP1 1.29044
TP2 1.28235
TP3 1.27097
USDCAD Short With 2 Confluences.
As we can see the price has been moving in a bullish direction for several days. We are starting to see signs of potential market exhaustion which could signal a potential reversal. There has been a change in market structure
from bullish to bearish as we can see from the breakout of the key level. The entry for this trade was at the test of the key level and the target is set around the low of June. Risk reward currently stands at 1 to 5.8. Never risk
more than 2% of your account on any single trade.
Confluences:
1: Double Top Pattern Formation
2: Key Level Breakout
USDCAD - Daily Trade Idea - 1-Jul-22USDCAD (SHORT)- If all the resistance holds in place.
If we see the Resistance broken out then we could see the shift in the trend.
I marked the TP 1, TP 2 , TP 3 and EXIT (SL) on the chart.
(THIS IDEAS VALID NEXT 24 HOURS)
Please note this is only the Trade Idea base on S & R and not a signal, the market can react differently during the session and only enter if we have the final confirmation for entry.
usdcad short 4h This signal is seen in 4 hours. As you know, the signal is not suitable for people who want to finish the transaction quickly
USDCAD downtrendIn this USD CAD downtrend, you can SELL in this range
We seem to be strengthening CAD, because so was my analysis of AUDCAD
I put the AUDCAD analysis link in this post
usdcad analysis hello traders usdcad next move possible to sell beacsue usdcad made head and shoulder pattern h4 time frame
usdcad short idea price action 15 min TFPrice action & Candle recognition usd cad short based off of Price action
USD/CADSell: USD / CAD
SL @ 1.29220
TP @ 1.27850
Max Risk: 2%
(When calculating, do not forget about different spreads from Brokers)
Leave comments or likes to keep our content free and alive.
Have a good week to everyone
It is not an investment recommendation
