USDCAD short area!!I'm still holding the bias of seeing a further push down but now its just getting into the best entry point, after been stopped at breakeven from last night ill be watching for entry's again today! Price usually gives you more then one opportunity and we still haven't broken upside trend structure so I defiantly wouldn't look at taken shorts from current price, be patient and snipe those best entry points. Good luck!
Usdcadshortsetup
USDCAD swing Position and SetupAs you can see, price dropped from a very strong order block around 125820, after breaking out of a bearish flag, followed by a strong trendline break. Im hoping to see price go even lower after that rejection on the EMAs. I am waiting for price to close below the current zone to open another position.
*Disclaimer*
This is not financial advice. Forex trading is risky. Trade at your own risk.
#Trade_Like_A_Magnate
USDCAD SHORT POSITIONS TAKEN!Hoping to see price continue to the downside from around current area. Would have liked price to make more of a corrective move but I'm expecting weaker USD so hopefully we can just move from here. Remember always manage risk and never let you emotions dictate your decision making!
USD/CAD Short From Resistance This has retraced nicely to the point I marked out in my previous analysis for the pair. This is a good shorting entry to the target of 1.22500 with SL just above the resistance level. MACD is still below 0 so that signifies this is still bearish and EMA's are very close to crossing but I expect this to drop from here.
USD/CAD Waiting For Retrace To ShortThis has broken below a support, it now offers a chance to short this further but we need to see a retrace first for an opportunity to enter the trade. A retrace to at least 0.382 Fibonacci is required, then if and when it rebounds the short can be entered with a target of 1.22500 with SL just above the support level.
USD/CAD Trading in Descending Channel.Hello traders, USD/CAD is trading at 1.2692. The price is trading in downward resistance and support channel, it can go further down from here. As the price has given a small pull back now it can continue its down trend and its target price will be at 1.2548.
Follow proper risk management strategy to avoid unnecessary losses and to increase profitability, don't risk more than 2% of your capital on each trade.
Do follow us for future Forex trend analysis and Ideas.
Thank you,
Rishikesh Lilawat