First green line is target 1. Second green line is target 2.
Here is some simple analysis for the USDCAD Daily. These blue levels are some ''Obvious'' levels that could cause a bit of fluctuation in price and therefore some LTF Setups. I will pay close attention to these levels purely for their significance on the daily chart, These levels could be possible for stophunting or give setups in terms of reversals but...
In July a new MPP was drawn. Currently it is the situation that it will rise again with the support of new MPP (P) 1.31266 neatly. Even if looking at the weekly chart, It have been slowly raising it for nearly 10 months. Weekly chart As a provisional up trend, I'd like to simply place a long. << tactics >> 1) MPP (P) 1.31266 functioned as a support...
In July a new MPP was drawn. Currently it is the situation that it will rise again with the support of new MPP (P) 1.31266 neatly. Even if looking at the weekly chart, It have been slowly raising it for nearly 10 months. Weekly chart As a provisional up trend, I'd like to simply place a long. << tactics >> 1) MPP (P) 1.31266 functioned as a support...
Bearish harmonic spotted on USDCAD. Weak price action and lower highs. Entered short. Targets are labelled. Please use a stop loss and appropriate risk management. Remember to always trade responsibly. Good luck! :D This universe has no boundaries.
Entry - 1.329 Take Profit - 1.32 - 90 pips Stop Loss - 1.33575 - 67.5 pips I don't usually like to trade against the trend, but the reaction following the CAD CPI/retail data has me thinking it's time for a correction. The price jumped off of terrible data, but fell back below my significant level of S&R (1.329 - light blue line). The long wick on the weekly...
Harmonic Shark appearing on the weekly, as well as there being confluence with EWT 100% for wave 5; S/L can be placed above high and T/P can be taken at the marked boxes (Potential Reversal Zones)
about another 150 - 200 pips long still, but once we hit the 1.35 price range UC will have a long ride back down to 1.28 before we see any true support. Trade at your own risk.
This pair is breaking out of the corrective structure of wave 4 of (C), which in terms of patterns looks like a Bull Flag. Target is located at the 0.5-0.618 of waves 1-3 within the orange box between the 1.4726-1.5349. Nice profit to hunt. All oil currencies listed in the related ideas would suffer from the oil weakness and it's not a big secret.
These zones are calculated using Fibonacci Ratios of past price moves. Where prices overlap, drag the Right (price) Axis up to magnify and reduce overlap vertically. There are zones above and below the current window, Drag the Chart up/down to see other zones. Drag bottom axis to the left to magnify the candle size to view close up. I will update as new zones...
Looking to take advantage of the USDCAD break above its daily resistance trend line. 400 pips on the table!
Taking a stab at shorting USDCAD. Weekly chart - This week we revisited last weeks open and rejected the price. This tells me there is a important price level. I see a lot of bullish signals but I have a feeling they are a trap since they are so obvious. DXY is also printing new lows. With this pull back I am jumping in short with a micro half way pullback. ...
Bullish case 1 - Black descending line act as support 2 - Price performing a throwback to former resistance (red line) to test as support 3 - Up-trending channel off the bottom Looking for exhaustion on 1HR and 4HR on lower bollinger band. 1H UC See continuation of red and black thick lines on the hourly. Bearish Case 1 - DXY looking really...
Back to weekly former resistance that should now act as support - this is a throwback after that successful brake out. Look to the hourly channel below to finalize long entry. Even if price falls thru weekly support, we have another major trend support very close by.
looking for downside to finish right shoulder of inverse head and shoulders. should see a big push next couple of week. MASSIVE rejection in monthly.