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Usdcadsetup

USDCAD, 4hr tf, Elliott Wave breakdown of Wave-CHello, my friends, My second setup for today is USDCAD pairs. As you can see, there is a descending trendline currently holding USDCAD from going up. It is more likely price will go down as long as it is below the descending trend line. By assuming this recent movement as Wave-A and Wave-B, we are now at Wave-5 and it is more likely to be a 5 waves movement. We are now on wave-4 and about to continue into wave-5. We could use Wave-1 as our protective stop loss because wave-4 could never touch wave-1 area. Sell USDCAD 1.3020 Stop loss 1.3045 Take profit 1.2945 (3R) RR Ratio 1 : 3 Use only 1-2% risk Good luck If you find this post useful, don't forget to give it a like and follow me for my next update Disclaimer : I sold USCAD from 1.3020
Short
by HayatoDragonFX
USD/CAD Day Swingtrade sell signalHi traders community! Welcome to my new free signal! USD/CAD Day Swingtrade Market-Sell: 1,3060 Stop-Loss: 1,31000 Target 1: 1,30300 Target 2: 1,29800 Stop-Loss: 40 pips Risk: 0,5-1% Risk-Reward: 2,0 Pivot (invalidation): 1.3100 Our preference Short positions below 1,3100 with targets at 1,3030 & 1,2980 in extension. Alternative scenario Above 1.3100 look for further upside with 1.3125 & 1.3145 as targets. Comment As Long as the resistance at 1.3100 is not surpassed, the risk of the break below 1.3050 remains high.
Short
by XTrader_Paul
USDCAD 260 Pips bullish run expected. Will it reach Sep high?USDCAD ********* ⏳4 Hour chart 🎲 Possible entry analysis ⛳️ Possible bull/bear target 📚Educational —————-❇️——————- Detailed analysis 💬 1️⃣ Trend line bounce, Break and retest around 1.31500 2️⃣ 1.32500 Price action level-Dynamic support 3️⃣ Risk off mode and Rising of virus infections, Falling of Oil- WTIUSD prices 4️⃣ 1.34000 Key psychological resistance 5️⃣ Price Movement within the broader upward channel 6️⃣ Parabolic move was expected from 1.31000 to 1.35000 7️⃣ Technical support - Bear 8️⃣ Minor Bullish Trend 9️⃣ September high Immediate resistance 🔟 Strong DXY- Upward pressure- Negative for CAD #️⃣ Overall bearish trend —————-❇️——————- 📉 Technical bias-H4-Bullish Above200 Exponential moving average 200EMA acting as immediate support - Bullish trend Possible entry point-1.32600 Relative strength index - 50> Above neutral area. RSI trend line support MACD -Felled below the middle line, Red zone territory, Oscillators pointing downward Stochastic -Around neutral area -Short term bullish trend Ichimoku cloud -cloud is turned green-Cloud Support Bollinger band- Price is around higher band-Middle band acting as dynamic support —————-✳️——————- Key reversal area's 1.34000 Key psychological level 1.34160 September month high 1.32510 Dynamic support and resistance 1.36000 Key psychological level-Major key reversal area 1.31200Lower trend line reversal area 1.132510 Possible entry- Bullish —————-✳️——————- Bullish entry #USDCAD Entry price - 1.32520 Take profit 01 - 1.33500 (100 pips) Take profit 02 - 1.34150 (165 pips) Take profit 03 - 1.35150 (260 pips) 🚫 Stop lose 1.31940 (55 pips) Alternative bearish entry-1.34170 ⬇️ 2.0% Growth expected ⤴️ Account growth 0.45 : 2.00 ✅ Risk reward ratio 1 : 4.2 —————-⚜️——————- Push the like button , And cheer up if you found useful
Long
by forexorbit