Usdcadsell
Is the channel going to hold for the USDCAD?The dollar cad tested the bottom of the channel like we predicted and moved up higher, it has now tested the top of the channel and faced some rejection, are we going to see a break out?
BEAR CASE
Until proven otherwise, our bias is to the downside. We expect to see it test the bottom of the channel once more and if it faces rejection there or before there, we know a major upmove is coming for this pair.
BULL CASE
If a breakout happens, we're targeting 127 to put up some resistance.
USD/CAD:PRICE ACTION | NEW BEARISH SETUP READY...The DXY index continues to rise and the USD/CAD pair retreated again after the US Non-Farm Payrolls surpassed expectations and the US dollar rose to daily highs.
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USDCAD: Market ShiftRecently price shifted from bullish to bearish, however, the order block that broke the high is yet to be tested.
If we manage to hold the OB then I will look for buys higher.
If the OB is disregarded, we can attempt to sell the market from new areas of demand.
Leave a thumbs up and comment what you think below.
USDCAD: Succesful Manipulation EntryWe knew it was coming, as predicted in our related ideas below.
As soon as it came, we jumped at the opportunity and got involved in swing buys with a tight stop loss.
I now expect this move to rise up to 1.26, AT LEAST.
Hopefully, you guys managed to catch the same move.
USDCAD more downside coming!The dollar cad traded is largely range bound this week. The coming week should see a break of trend to either side but our bias is to the downside as structurally on the longer term charts, it looks bearish.
BEAR CASE
If bears find conviction, we should see a retest of 1.2 before some consolidation and more downside.
BULL CASE
As we enter the first week of November, do not be surprised to see price retest 1.25 before the bear case is fulfilled.
USDCAD: Buys AvailablePlease refer to my related idea to get a better understanding of the long term vision for this pair.
I would love to buy this pair here but I am fearful that retail is buying heavily here leaving this area open to manipulation.
I think it would be sensible to wait for a deeper retracement before we buy up into our target area.
What do you think of this setup?
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USDCAD pivotal points (long term sell)USDCAD previously rejected a major support/resistance level as well as a weekly fib level and the weekly 200ema.
The way i trade is from one major level to another, so the next tp is 1.20255. But before that, i knew that price could stop and react to this 1.2300 support level , which it did. i entered after seeing the 1H and 4H charts were illustrating a rising wedge , which is a sign that price is indeed going back up, temporarily. The rsi on both timeframes was below 30 (oversold) and the rsi on the 4h was even showing divergence .
I took opportunity of this retracement to what’s most likely a fib level to enter a short term buy before we continue down. Once the buy TP is reached, i’ll look for signs of rejection and take it back down to the original sell TP .
USD/CAD SELL IDEA#daytradeHey tradomaniacs,
USD/CAD:Daytrade-Preparation
Market-Sell: 1.23365
Stop-Loss: 1.23535
Point of Risk-Reduction: 1.23230
Take-Profit: 1.22705
Stop-Loss: 16 pips
Risk: 0,5% -1%
Risk-Reward: 4,0
LEAVE A LIKE AND A COMMENT - I appreciate every support! =)
Peace and good trades
Irasor
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