Usdcadshortsetup
Predictions for USD/CAD week commencing 29th June 2020 First post here so any feedback most welcome. There will be a much better understanding of where price is likely to go in the first couple of days this week.
GREEN - Ideal Set Up
RED - Secondary Set Up
1 (Green).
We form a bull flag just above the current double top area to continue to the upside as we have seen over the last few weeks. If this happens then I am then looking to see how price behaves around the upper trendline. If we get a rejection and then a hover I will be taking a risk entry to the downside and look to hold all the way down to the start of the corrective structure around 1.33282.
2 (Red).
Price rejects again from the current double top resistance area at 1.36853 before a move down of which I will look to take a reduced risk entry on the first bear flag. The reason for this is this could just be a correction on the continuing uptrend channel which I do not want to be on the wrong side of.
USD/CAD Technical Analysis.Currently, USD/CAD is trading at 1.3539. The pair started a new down trend after breaking the support level at 1.3548. Previously, the pair was consolidating in the resistance and support levels. As the pair has already started a down trend by breaking support level, its first target price is at 1.3430 and second target price will be at 1.3358.
Follow a proper risk management strategy to avoid unnecessary losses and to increase profitability, don't risk more than 2% of your capital on each trade.
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Thank you,
Rishikesh Lilawat
I expect an extension before falling on USDCAD
I would like to see USDCAD slightly buy before i would think of selling this pair . Join me to receive future analysis , comments would be welcome as well as for those interested in learning are welcome.
USD/CAD Short Trade setup so simple and perfect 1.37000 will be our entry point once we see a bearish price action
UsdCad Descending Triangle - Short Setup- UsdCad on the daily chart formed a Descending triangle which is a bearish triangle pattern
- Price broke support at 1.38597 and currently hitting trendline and still heading for 200MA
- The break out was missed, i am currently waiting for the daily candle to close before entering a sell
- will look for a sell entry on the hourly chart with a SL just ablove the broken support line
- target area - 1.36694.....a possible target area 1.34209 but once price breaks the 200MA if not then the 1st target is approx 150 pips
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Disclaimer: The Trade setups are based on my analyses and ideas and they are not signals or trading advice. Do your own analysis before you enter any trade based on my shared analyses. Trades are entered once criteria is met....Remember trading is risky and we can't force the market in any direction..#ExercisePatience
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USDCADTime = 2H
– Structure = Downtrend
– Pattern = Descending Triangle
– Tendency = Downtrend
Price might move above slightly in-search of Clear resistance, but the trend is Downtrend
GOOD LUCK
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DISCLAIMER: This is NOT an Investment Signal, Trade at your Own Risk.
USDCAD - SHORTthis pair has broken below the neckline of the descending triangle.
Shall wait for h4 or h1 to see if there's any retracement, if yes, proceed to sell down following the next wave of line drawn
USDCAD waited on 1.43 area for a shortUSDCAD seems very clear these weeks.
We're waiting for the price to test 1.43 Area and take a look if there are conditions to short it.
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Entry 1.438 (61.8 % of Fibo) and point 5 of the wave
SL 1.4465 (above 0.786 of Fibo)
TP 1.402 (point 4 of the Wave)
Lower levels to watch for USD/CAD "1.3600"If we see weakness on DXY i marked the levels that I'm watching for lower prices. Wednesday should be very volatile for USDCAD so if the dollar shows weakness i believe we will see 1.3600 on Wednesday.
USDCADShort term long,
the price will test the 61.8 level again before going down.
else wait for the break out of the ascending pattern and retest to enter a trade.
USDCAD: possible next 4 movesInteresting setup for #USDCAD.
2 scenarios in the next few hours: if the price breaks the "little bullish channel now on 1.41 we can go short, if not we can wait for the Elliot wave (in the small channel) to be completed to go short from 1.44 area.
TP1 on 1.61% of Fibo 1.38480
TP2 on 2.61% of Fibo 1.332
When the big pattern will be confirmed on these TP we can go long to the 61% of the last swing.
USDCAD SHORT UPDATEI have updated my chart on USDCAD. Still going short with a new channel on 4H timeframe.
See initial idea here
USDCAD SHORT UPDATENice short setup on USDCAD. See yesterday's forecast in profile or click link on chart.
USDCAD : Will it turn BearishUSDCAD ;
Trade : Short/Sell
Profit Target : 7% < 15% (Swing & Long term)
Trade Type : Reversal
USDCAD - DAILY - SHORT SETUPUsdcad has been uptrend for over 3 weeks and now its at a monthly supply level so we can see a correction on the way on daily and H4 timeframes.
