USDCAD Short Still waiting for an opportunity to go short, lets wait and observe
This is most likely scenario that i see
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D-uc
USDCAD "The Moose is Loose"Winter is coming and so is interest hikes. Crazy price action last week. However, price returned under support. I also expect oil prices to rise. UC should drop here
91 - UCAD - Sell after pullbackHi
I sell on the swing candle pattern.
Pullback
(Near to) cross SMA20.
TP around 1.27xx
USDCAD - Not Confirmed... But a Possibilityon the 4H chart we have broken the neckline on a smaller head and shoulders pattern which here on the daily chart has been completed in the right shoulder on a structure support area. This pattern has not been confirmed yet as the neckline still has a while to go, but the 4H chart does confirm to me we will see some upside so the completion of this larger pattern has a higher probability of completing as well.
I will be monitoring this as it progresses but a move up to the 1.35 price range is what I am hoping to see.
Continuation higher on USDCAD?With a break above a trenline, I'm biased on a continuation upward. Cheaper oil, NAFTA uncertainty, and tariff disputes are driving this push up. I have a small long position open, but am expecting a retrace to the 1.305 -1.31 level which is the location of the trendline, 30EMA (green line), and 200MA (blue line). Ultimately, my target is 1.329.
NFP may throw a wrench in the gears, but it will certainly expedite price toward my re-buy zone or my target, so I'm looking forward to it.
Thanks for looking.
-Zedro
UC Swing Buy WeeklyUC triple confluence
Retest of major weekly support and retest of major monthly broken downtrend and retest on weekly uptrend support , reversal hammer close on weekly, we look for possible retests next week before ascending to 1.33-1.35
3 Dive PatternToday's move was fascinating. Price targeted a previous resistance area (.50% retracment) and as of now was rejected. There is massive divergence on the daily chart. If price moves above previous daily high this trade becomes invalid.
USDCAD Daily Long Term Thoughts.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 especially continuation, If price manages to move down for a while and nearing the lower blue zones i will watch closely for these levels to have not a single reaction, as for the way i trade i can find very likely continuation setups based on the fact if price does NOT react upon FTB.
These white levels are just there for myself, as i expect these levels very able to whiplash price around, Only in very fortunate PA i will maybe look for setups on the LTF in these white zones, but probably wont trade these.
However there is a small little side note with the bottom white zone, There is a blue zone on a very ''Obvious'' level very close above the white zone, Again i will have to see how price develops but there is the possibility of some manipulation here, What exactly am i talking about? Read this:
1. Blue zone gets hit = Initial Buyers pulled in (Maybe some PA to lure in more buyers)
2. If and when blue zone gets broken = Buyers most likely stopped out aswell as Breakout shorts joining the party, could make some false retests aswell to lure as many sellers as possible.
3. Price has lured in the shorts and continues to rally upwards very strongly to also stop out short orders, I expect this to be a strong and powerful upmove purely for the fact that big bullish candles scare short traders to re-enter, and makes possible buyers stay out because it plainly scares them.
4. Long story short i am expecting a bit of ''Market manipulation'' in and between the blue/white levels at the bottom of my chart.
The results of these zones will show over time, still a long way away until we will get close to hitting all levels, if at all!
Until then, trade with caution and ofcourse always go full margin on scalps boys and girls.
(Seriously dont go Full margin though)
Whether uptrend is supported by the new MPP (P)?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 line
long.
The first limit is under the horizontal line 1.32600 (neckline of the latest double top).
The second limit is under WePP (R1) 1.33035.
The third limit is under MPP (R1) 1.33941
2) It is doubtful whether MPP (P) 1.31266 functioned as a support line
I am watching it as an uptrend, so I will not think about short once. I will observe.
I would be grateful if you like it idea,give me follow or agrees!
------------------------- --------------------------
Brown thick line: Yearly Pivot Points (YPP in the text)
Light blue thick line: Monthly Pivot Points (MPP in the text)
Green thin line: Weekly Pivot Points (WePP in the text)
Indigo thickLine: Horizontal line or Trend line seen by weekly or monthly
Indigo thin line: Horizontal line or Trend line seen by 4hourly or daily
Indigo dotted line: outstanding double zero
Red curve: EMA 20 close
Indigo curve: EMA 200 close
Green curve: EMA 800 close
Black curve: EMA 1600 close
x mark: Line which may not function
------------------------- --------------------------
Whether uptrend is supported by the new MPP (P)?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 line
long.
The first limit is under the horizontal line 1.32600 (neckline of the latest double top).
The second limit is under WePP (R1) 1.33035.
The third limit is under MPP (R1) 1.33941
2) It is doubtful whether MPP (P) 1.31266 functioned as a support line
I am watching it as an uptrend, so I will not think about short once. I will observe.
I would be grateful if you like it idea,give me follow or agrees!
------------------------- --------------------------
Brown thick line: Yearly Pivot Points (YPP in the text)
Light blue thick line: Monthly Pivot Points (MPP in the text)
Green thin line: Weekly Pivot Points (WePP in the text)
Indigo thickLine: Horizontal line or Trend line seen by weekly or monthly
Indigo thin line: Horizontal line or Trend line seen by 4hourly or daily
Indigo dotted line: outstanding double zero
Red curve: EMA 20 close
Indigo curve: EMA 200 close
Green curve: EMA 800 close
Black curve: EMA 1600 close
x mark: Line which may not function
------------------------- --------------------------
[USDCAD] Goodnight Looney 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.
Catching a Short Term Retracement on USDCADEntry - 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 candle indicates to me selling pressure, profit taking, and trapped bulls.
The main point of trouble on this 4H chart on the way to my target is the 30EMA (green line) My stop loss is above one of the recent high, though not quite at the top of that news bump. This is a somewhat questionable trade, considering that myfxbook has 87% traders are short on USDCAD (usually best to trade on the opposite side of the majority), but the next area of strong resistance is about 200 pips away (1.345) and will take some effort to get there.
I'm not ruling 1.345 out, but I'm looking for an ebb to the flow. Target at previous area of minor resistance. Not looking to be greedy for a long ride down.
Thank you for looking!
-Zedro
USD/CAD [Long-term analysis]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)
UsdCad Long-Term Viewabout 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.
USDCAD. Possible wave count. Targets 1.4726-1.5349. Bull FlagThis 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.
USDCAD Fibonacci Support Resistance Zones: UC as of Jun 10These 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 are defined by upcoming Fibs.
