USDCAD: Short opportunityThe pair has broken to the downside from the corrective structure it was confined to past few days and now an upside correction it looks good to sell.
CAD
Feel there could be a potential move back down to 1.2800 USD/CADBreaking down USD/CAD as it's currently showing indecision between our daily and weekly key level.. Feel there could be a potential move back down to 1.2800. Wait and see
GBPCAD ShortA little late in posting this chart. Took the trade already and set stops to BE. But there is still time to enter.
Good luck.
eurcad - correction may continueI think the minimum correction has been met -- (C) has finished or we are in or towards the tail end of it. Frankly I am looking for price to continue rising, as the down move is only in 3 waves so far (see chart below). There are several variations from here -- it's done, or one more up, or we just completed wave 1 of C of (C), or more beyond that. The bottom line is that there is no impulse down yet to hint that the correction is over.
CADJPY Long Play- USOIL is in an uptrend currently.
- BoJ Policy is uncertain as to whether another rate cut is/isn't necessary.
- Daily line of support
- Good R/R Ratio
- Short - to - Medium hold trade
EURJPY Triangle SetupThe Japanese Yen has just been on a tare. For over a year year now its been dragging pretty much every opposing currency into the dirt. This setup is merely a continuation of that observation with a triangle pattern here contracting nicely. Definitely expecting another bearish breakout. Virtually identical setups can be found on other JPY pairs as well. Enjoy
USDCAD isnt finishedlooking for this pair to complete its move to the upside. dont count it out for a sell just yet. its a little early in my opinion.
$NZDCAD | Bearish GEO & Wolfe Wave | Targets DefinedHello Traders,
$NZDCAD is currently in a strong uptrend with no plans of reversing any time soon. However, looking at the overall structure, we can clearly see a Bearish Geo formation. To define points 5, 5', and 5" I always look for the completion of an AB=CD pattern. This is usually a good indicator or where price will reverse in the GEO'.
The lines in red define the highest probability targets. The darker the color, the higher the probability. The targets defined will also act as a level of reversal for price. The lighter colors indicate the strength of the reversal. The lightest color then, has the highest chance of reversal. Making sense?
The forecast, for now, is bullish.
Stay tuned,
Chartistry
AUDCAD SELL SETUP This is AUDCAD 2-hour chart where we can see the impulse down, now this pair is in correction and we're looking to catch the next impulse down.Traders who are more conservative with their trading should wait for the breakout since its a safer entry, because we dont know for how long this can consolidate before it goes down.For traders who are looking to get this trade earlier, there is a sell setup on lower timeframe and I'll get into that if I can and I'll put it in breakeven and wait to see if it breaks, which would give a great risk-to-reward trade, or it takes me out at breakeven and makes more correction moves before the next impulse.Trade your plan
USD/CAD SELL H & S on the 1 HR I see a clear H & S formation coming to life. Wait for the completion and for price to enter the box to take a SHORT
USDCAD Struggling at major resistance zoneThe Loony has once again been rejected at the major resistance zone above 1.32. Pair is pulling back towards the broken wedge top. We'll be keeping an eye out for a bounce from there and failing that; looking for a higher low around 1.3. There is a chance the pair corrects near flat down to the September lows around 1.2820 - though we think this unlikely.
GBPCAD - BUY SETUPThis is a buy setup.We have a breakout now and we'll be anticipating the 1.27 as target.This may take some time so you have to be patient if you want to trade this.Traders who are more conservative can wait for a correction on lower timeframes before buying which I'd highly suggest.Trade your plan
USOIL (WTI CRUDE) Potential LongIf break of downward trend line, look for buy play on Oil till TP of 47.41 where price has show key resistance on 4hr chart.
