USDCADUSDCAD ( U.S Dollar / Canadian Dollar )
Symmetrical Triangle as an corrective pattern in Short Time Frame
Break of Structure
RSI - Divergence
Completed " 123 " Impulsive Waves
Change of Characteristics
Usdcadshortsetup
USDCAD scalp short on exhaustion reversal
As always, we like to keep it clean and simple, with technicals and analysis that's easy to see and understand. Let's get into it:
1. Wave 5 exhaustion on mult timeframes
2. Overbought 30m/1h/1D
3. Shooting star candle printed on 1h
Analysts note that USDCAD is trading within a rising channel since late September, recently peaking at 1.4178. The bullish momentum suggests potential for further gains, but short-term corrections (ie. why we're scalping) are common as traders take profits and reassess positions.
Market Sentiment and Data Releases: With key U.S. and Canadian employment data released recently, markets may experience volatility as traders digest the information. This can often lead to short-term corrections as the market adjusts to new economic indicators.
Be Alert.
Trade Green.
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USDCAD SELLHi fellow traders, USDCAD is ready to make a move lower from the blue box after completing the WXY correction. Target the 1.3432 level. Good luck and trade safe!
USDCAD (Bearish idea)USDCAD appears to be going bearish at this time. Due to the 2 strong impulses and small correction. I will go short on this pair ONLY if the following criteria is met.
- Price returns to the previous level of support with candlestick confirmation
- Fibonacci levels enter the 61.8% zone.
*always remember to use proper RISK MAANGEMENT*
USDCAD- Short IdeaEntry: Price broke through the swing low and the trendline with volume. Entry at the bearish zone.
Stop Loss: Slightly above the bearish zone. Give stop loss some room to breathe.
Take Profit: At TP, the nearish bullish zone.
USDCAD is going to Tank down but when..So to break this trade down down properly I started by looking on the daily time frame and saw there was a bullish liquidity purge, came down to our 1H time frame to confirm that we are indeed inside of a order block and to be clear about this particular setup its the "Holy Grail" or Elliot wave pattern. To see things a little more clear I've used the 15 or 5 MIN time frame to spot out the distribution and accumulation phases and liquidity has been swept from March 19th. I'd look for a 5 Min entry at 1.36127 and target the very bottom consolidation at 1.34558. SL at 1.36146. To maximize any profits trail stop losses!! secure the BAG and good luck!
USDCAD Trading Plan - 20/Feb/2024Hello Traders,
Hope you all are doing good!!
I expect USDCAD to go Down after completing this correction.
Look for your SELL setups.
Please follow me and like if you agree or this idea helps you out in your trading plan.
Disclaimer: This is just an idea. Please do your own analysis before opening a position. Always use SL & proper risk management.
Market can evolve anytime, hence, always do your analysis and learn trade management before following any idea.
USDCAD bearish modeThere are indications that the USD/CAD pair is poised for a shift towards a bearish trend. A double top pattern has emerged on the 4-hour chart, suggesting a potential reversal. Additionally, the presence of a breakout from the existing trend raises the prospect of a trend reversal. Traders may anticipate a retest of the breached zone, providing an opportunity to enter at a discounted price and capitalize on a potential bearish movement."
USDCAD BUY | Day Trading AnalysisHello Traders, here is the full analysis.
Watch strong action at the current levels for BUY. GOOD LUCK! Great BUY opportunity USDCAD
I still did my best and this is the most likely count for me at the moment.
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USDCAD Short Term Sell IdeaH4 - Strong bearish momentum.
Lower lows.
No opposite signs.
Until the strong resistance zone holds I expect the price to move lower further after pullbacks.
USDCAD → Fall to 1.35200 or 1.40000!? Here's What We Know.USDCAD closed a bear candle below its bull channel support last week, leaving the bulls to wonder if this is the beginning of the end! Will the US Dollar recover and bring us back into the bull channel?
How do we trade this?
We closed a candle below the bull channel, it's reasonable to be biased to short in the short term. The price may want to make contact with the 200EMA at 1.35200 where it could show support and bounce to the upside. I think a short for 100 pips to 1.35200 is reasonable with a protective stop just above the bull channel support. It would be reasonable to take some or all profit just above the 200EMA, but you could hold some and see if the price falls further.
Key Takeaways
1. Closed Candle out of Bull Channel, Bias to Short.
2. Look at 4HR chart for a test of Bull Channel Support.
3. After Sell Signal, Target TP at 200EMA 1.35200
4. Watch for Support at 200EMA
5. RSI at 41.00, below Moving Average, Supports Short.
You are solely responsible for your trades, trade at your own risk!
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USD/CAD Drop to 1.35000? This is An Optimal Short Setup!USD/CAD is forming a Head and Shoulders reversal pattern, potentially signaling the end of this bull channel. The price action has begun to stall and oscillate around the 1.37000 level and is now falling below the 200EMA. We are now faced with a reversal signal in a bull channel.
How do we trade this?
The probability of profit is greater longing in a bull channel because there are more bull bars than bear bars. We are faced with a potential reversal pattern, the head and shoulders, which negates our bias to long. Should we short?
If you're looking to swing trade, yes! Swing trading involves lower win rates because you're trading the reversal of a pattern. In other words, you bet against the trend, which means your probability of profit is low, but your reward is *much* higher as a result.
A decent short here would have been to enter around 1.38000. Since that price is behind us, I would short here and set a protective stop loss above the right shoulder at 1.38000, take profit with half your position just below the bull channel at 1.36000, and the rest just above the 200EMA at 1.35300. Once the first take profit is hit, move your stop up to the entry price or just above it to lock in profits.
Key Points
1. Bull Channel with a reversal pattern.
2. Potential Head and Shoulders Forming.
3. Gap down to 200EMA, reasonable profit target.
4. RSI has Room to Fall
You are solely responsible for your trades, trade at your own risk!
Let us know what you think in the comment section below!
USDCAD R:R 1:3This is for short term
Daily candle break the structure lookin for sell
Marked Possible Sell zone
Once Reached Entry zone Look for Liquidity sweep and BOS in LTF then Enter
And this is risky too.
Please DYOR before entering the trade.
USDCAD SHORT Short TermThis is for short term
Marked Possible Sell zone
Once Reached Entry zone Look for Liquidity sweep and BOS then Enter
And this is risky too.
Please DYOR before entering the trade.
Might be beginning of impulse wave downPreviously it was quite strong sell on H$ chart and the current structure showing weak buyer indicates still in selling momentum. Possible sell opportunity for intraday set up, waiting for valid swing low to be formed when internal (H1) swing low to be broken. As long as no minor swing low (choch) formed, no sell opportunity.
USDCAD Long Term selling Trading IdeaSep 25
Hello Traders
In This Chart USDCAD HOURLY Forex Forecast By FOREX PLANET
today USDCAD analysis 👆
🟢This Chart includes_ (USDCAD market update)
🟢What is The Next Opportunity on USDCAD Market
🟢how to Enter to the Valid Entry With Assurance Profit
This CHART is For Trader's that Want to Improve Their Technical Analysis Skills and Their Trading By Understanding How To Analyze The Market Using Multiple Timeframes and Understanding The Bigger Picture on the Charts
USDCAD SellUSDCAD has made extreme selling which is giving us an indication that anytime market may fall. I have use proper money management on it. Do your own analysis also before taking trade. Trade at your own risk.
Bearish setup on USDCADHi Traders,
Check this out - USDCAD could start a fresh bearish momentum, after breaking of the bullish trend.
However, with the uncertainty on how heavy FED could bump dollar this is better wait on for a break below the Triangle pattern before looking for a better short trade entry.
That is what i will do, provided that we get a solid breakdown and retest of the "Pennant like descending Triangle".
Watchout
USDCAD - FUNDAMENTAS WITH TECHNICAL LEVELS#USDCAD
USDCAD is now quite BUY. The dollar started to strengthen slightly because of the short-term POSITIVE SENTIMENT for the dollar. Because it came with the NFP REPORT. The dollar weakened slightly after the FOMC last time. But the FED can raise the RATE HIKE or their CEILING RATE whenever necessary. Anyway, it was mentioned in the previous MEETING that the FED is still MONITORING INFLATION DATA.
We think it will go up to 1.3585 level before going down again. Also, with this MARKET RISK ON SENTIMENT, the USDCAD PRICE can SELL to the 1.3300 LEVEL in the future. FOLLOW THE STRUCTURE GIVEN.
USDCAD SELLHi fellow traders, USDCAD is completing this large correction in a flag pattern. Look for a selling opportunity from the blue box area and target the support levels. Good luck and trade safe!
USDCAD - Long active ✅Hello traders!
‼️ This is my perspective on USDCAD.
Technical analysis: As we can see here we are in a bullish market structure from daily perspective, so I am looking for longs. I expect bullish price action from here as price fiiled perfectly the imbalance and rejected from bullish order block.
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USDCAD - FUNDAMENTAS WITH TECHNICAL LEVELS#USDCAD
USDCAD is now quite BUY. The dollar started to strengthen slightly because of the short-term POSITIVE SENTIMENT for the dollar. Because it came with the NFP REPORT. The dollar weakened slightly after the FOMC last time. But the FED can raise the RATE HIKE or their CEILING RATE whenever necessary. Anyway, it was mentioned in the previous MEETING that the FED is still MONITORING INFLATION DATA.
We think it will go up to the 1.4000 level before going down again. Also, with this MARKET RISK ON SENTIMENT, USDCAD PRICE can SELL to 1.3531 LEVEL in the future before BUY. FOLLOW THE STRUCTURE GIVEN.
