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Usdcaddaily

11 RR Sell Setup for USDCADCore Analysis Method: Smart Money Concepts Based on the Smart Money Concepts methodology, we have identified a strong demand zone on the daily timeframe, which has once again given a strong rejection, changing the price character from bullish to bearish on the H1 timeframe. 😇 7 Dimension Analysis Time Frame: H1 Swing Structure: Bearish CHoCH from higher timeframe zone rejection. Took inducement and now ready for a corrective swing move with its 1st pullback. Internal structure turned bullish for a correction towards extreme and decisional POI (Order Flow or Order Block). Preferred POI: Order Flow in the Premier zone of the swing. Entry Model: Regular SMC. Daily Resistance: Supply zone where sellers still have full control, with the 3rd breakout attempt failure. Pattern: 🟢 Chart Patterns: Reversal: Head and Shoulders pattern is clearly visible and completed. 🟢 Candle Patterns: Observed multiple reversal candlestick patterns on the daily timeframe, including Doji, Long Wick, Engulfing, and Dark Clouds. These patterns indicate strong bearish momentum at the level. Volume: 🟢 Very massive volume observed on the daily timeframe right before and after rejection, with the price reacting bearish. This is a strong indication for a sell position. Momentum RSI: 🟢 Price is in the bullish zone yet, but strange things are noted in terms of momentum on the daily timeframe. 🟢 Strongest 3-candle divergence and loud moves. According to Andrew Cardwell's method (used for momentum analysis with RSI), loud moves are almost 90% confirmed moves. Volatility Bollinger Bands: 🟢 After one of the longest contraction phases, the breakout to the upper side was unable to give the expected move and was rejected after a squeeze breakout. 🟢 Walking on the band took a rejection with a head fake, indicating strong bearish control here. Strength ADX: Neutral Rating: ⭐⭐⭐⭐⭐ Entry Time Frame: H1 Entry TF Structure: Bearish CHoCH POI: Waiting for mitigation Decision: Sell limit order with extreme risk (as per my money management strategy). 🚀 Entry: 1.3855 ✋ Stop loss: 1.3955 🎯 Take profit: 1.2818 😊 Risk to reward Ratio: 11 RR 🕛 Expected Duration: 45 Days SUMMARY: Based on the comprehensive analysis using Smart Money Concepts, a sell limit order at 1.3855 with a stop loss at 1.3955 and a take profit at 1.2818 is recommended. The setup shows strong bearish indications across various parameters, making it a high-probability trade. The expected duration for this trade is 45 days with a risk to reward ratio of 11 RR. If any one want learn this type of analysis can contact
Short
by Optimum369
USDCAD → Trade Analysis | SELL SetupUSDCAD forms a false breakdown of resistance, reached the resistance zone, but was subsequently pushed back down. We expect a bearish move from the confluence zone. Hello Traders, here is the full analysis. I think we can soon see more fall from this range! GOOD LUCK! Great SELL opportunity USDCAD I still did my best and this is the most likely count for me at the moment. ------------------- Traders, if you liked this idea or if you have your own opinion about it, write in the comments. I will be glad 🤝
Short
by TheGrove
1
USDCAD Trade IdeaMarket Analysis: USDCAD on the Daily Time Frame The USDCAD currency pair has exhibited a notable upward trend on the daily time frame. This trend is characterized by a consistent pattern of higher highs and higher lows, indicating bullish momentum. Additionally, there is a clear breakout (BoS) to the upside, further supporting the bullish bias. As we anticipate a retracement in price, it’s essential to consider the impact of upcoming calendar events throughout the week. These events can introduce volatility and potentially influence the pair’s movement. Given the technical context, my bias leans strongly toward a bullish entry near the fifty percent Fibonacci retracement level. I recommend placing a wide stop-loss at 1.34400 to allow for market fluctuations. Our target should align with the previous highs as we capitalize on the ongoing bullish trend. Remember to monitor the economic calendar closely and adjust your strategy accordingly. Happy trading!
by fxtraderanthony
USD/CAD could be nearing the end of its retracementA double top formed this month around a 50% retracement level on the daily charts ahead of its latest pullback. And it is interesting to note that the market tends to react around the 50% level. The double top could actually be part of a 3-wave retracement, and that retracement could be nearing completion. We saw a strong rally into the January high, hence the bias for an eventual continuation of that move. Bulls could look for a swing low to form around 1.3350 - which is near a high-volume node and another 50% level, and initially target the January highs - a break of which brings 1.36 into focus.
Long
by CityIndex
1
Trade idea: Canadian inflation data tomorrow On Tuesday, February 20, Canada will unveil the latest inflation data. It is anticipated that headline annual inflation will decrease to 3.2%, marking its first deceleration since October 2023, compared to December's figure of 3.4%. Bear in mind, the Bank of Canada's previously indicated that they expected inflation to persist near 3.5% until mid-2024. The forecasts obviously suggest a slight easing. Various commercial banks offer a range of forecasts too. ING predicts 3.1%, Wells Fargo anticipates 3.2%, National Bank Financial (NBF) estimates 3.3 to 3.4%, CIBC forecasts 3.3%, and Citi expects 3.4%. On the chart. the USDCAD faces challenges breaching the 1.3500 resistance line, but it currently hovers just above a supply zone and right on the threshold of its bullish trend line. The next potential targets are in the range of 1.3530 to 1.3550, with December high at 1.3620, just above this. It's worth noting that both Canada and the US observe bank holidays on Monday, which could lead to reduced trading volumes.
by BlackBull_Markets
USDCAD Trade IdeaThe USDCAD has reached a pivotal juncture,reaching into a critical resistance level. While the larger trend remains firmly bullish, I anticipate a temporary pullback before seeking an optimal entry point. 1D Balance Area: As you can see on the attached chart, price has formed a significant balance area on the daily timeframe at the accumulation phase. A Fibonacci retracement drawn from the low to the high reveals a confluence zone around the 61.8% level potentially offering a high-probability entry point for opportunistic longs. Note: This analysis is for educational purposes only, and I'm not dispensing financial advice. Always conduct your own due diligence before making any trading decisions.
Long
by fxtraderanthony
USDCAD SELL ON REJECTION !!HELLO TRADERS!! As i can see after a big downtrend on USDCAD now a retrace done and its showing rejection here at this level again also you can see it is unable to break the trend line and US $ weakness is the ongoing.. Wars ahead around the middle east escalating more and more which is not good for US $ friends charts are clear like diamond our risk and reward ratio is great on this given analysis lets see what markets bring to us its just and trade idea share ur thoughts with us and for more updates Stay tuned
Short
by APEX_TRADING_ACADMEY