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CAD

USD/CAD: Double top beneath key swing highsUSD/CAD has risen just over 4% since its YTD low set in July. And it did so in a relatively straight line. Yet a double top has now formed on the daily chart beneath the April and May highs, with the second ‘top’ coming in the form of a bearish engulfing / outside day. This likely points to at least a minor top over the near-term. Any low-volatility moves towards 1.3600 could provide bears an improved reward to risk ratio, with 1.3500 making a viable initial target. Should US data such as GDP, ADP employment and Nonfarm payroll disappoint, we could be looking at much lower.
Short
by CityIndex
USDCAD - Wait For The Bears ↘️Hello TradingView Family / Fellow Traders. This is Richard, also known as theSignalyst. on Weekly: Left Chart USDCAD has been overall bearish trading inside the falling channel in red. USDCAD is currently sitting around the upper trendline acting as a non-horizontal resistance, so we will be looking for trend-following sell setups. on M30: Right Chart USDCAD is forming a potential double top pattern but it is not ready to go yet. For the bears to take over, we need a momentum candle close below the gray neckline. Meanwhile, until the sell is activated, USDCAD would be overall bullish and can still trade higher. 📚 Always follow your trading plan regarding entry, risk management, and trade management. Good luck! All Strategies Are Good; If Managed Properly! ~Rich
Short
by TheSignalyst
7
Gcad could be starting to go higher after this pullback... **Find out more from my Tradingview Stream this week** *************************************************************************************** Hello there! If you like my analysis and it helped you ,do give me a thumbs ups on tradingview! 🙏 And if you would like to show further support for me, you can gift me some coins on tradingview! 😁 Thank you! Disclaimers: The analysis shared through this channel are purely for educational and entertainment purposes only. They are by no means professional advice for individual/s to enter trades for investment or trading purposes. The author/producer of these content shall not and will not be responsible for any form of financial/physical/assets losses incurred from trades executed from the derived conclusion of the individual from these content shared. Thank you, and please do your due diligence before any putting on any trades!
Long
by Shadowing_The_Big_Boys
USDCAD - Trend-Following Setup ↘️Hello TradingView Family / Fellow Traders. This is Richard, also known as theSignalyst. USDCAD has been overall bearish trading inside the falling channel in red, however it is currently approaching around the upper trendline. Moreover, the zone 1.365 is a strong resistance. 🏹 So the highlighted red circle is a strong area to look for sell setups as it is the intersection of the blue resistance and upper red trendline. As per my trading style: As USDCAD approaches the red circle zone, I will be looking for bearish reversal setups (like a double top pattern, trendline break , and so on...) 📚 Always follow your trading plan regarding entry, risk management, and trade management. Good luck! All Strategies Are Good; If Managed Properly! ~Rich
by TheSignalyst
6
CADJPY Two scenarios but sell opportunity more closely.The CADJPY pair is trading within a 5-month Channel Up pattern, exactly on its 1D MA50 (blue trend-line). We notice the formation of a Triangle within it, similar to April's. If the 1D candle closes below its Higher Lows trend-line, then we will sell targeting 104.250 (Support 1). If the price breaks above the Lower Highs, we will buy and target long-term the 2.0 Fibonacci extension at 114.775. ------------------------------------------------------------------------------- ** Please LIKE 👍, FOLLOW ✅, SHARE 🙌 and COMMENT ✍ if you enjoy this idea! Also share your ideas and charts in the comments section below! ** ------------------------------------------------------------------------------- 💸💸💸💸💸💸 👇 👇 👇 👇 👇 👇
by TradingShot