MCD1! trade ideas
Canadian Forex Analysislooking at the daily chart of the canadian futures index (D61!) price is at daily supply so any shorts would be counter trend based on the index chart but maybe not on the pairs.
June Canadian Dollar Three DrivesWe may have a Three Drives scenario with Jun CAD. USD was looking like a Head and Shoulders this past two weeks. CAD caught in sideways action. S1 at .74545 would become support for this move. Could also use S2 at.74090. Will have to wait and see.
Broken neckline of head and shouldersTarget is value area low. Would ideally see ABC and be able to fade B down to C.
Short bias but only scalping since must be wary of a pullback since it's not clear where A is on the chart.
Once a big green bar forms it will be much easier to project the location of B and be more aggressive with shorts.
LONG CADMajor rally overnight on the euro, which means USD is weaker. good for cad. Oil was very bullish yesterday on DOE, if oil rallies, CAD will follow
SHORT CADShorting CAD on oil being lower over night, great place to short with a clear stop loss above the high of the day
Gonna watch out for DOE or any rally on oil before DOE to GTFO of the trade
Canadian Dollar Futures Short 4.7:1 RRGood supply level in the CAD futures offering 4.7:1 RR - set and forget
High Probability Intraday Setup for Canadian Dollars FuturesThe following are trades setup ideas in 15 mins chart for Canadian Dollars Futures.
There are 2 distinctive dotted lines labelled as
1. AI's Daily Resistance
2. AI's Daily Support
These 2 Support and Resistance signal lines are generated by machine learning AI robots as a high probability trade setup for long or short.
If price action was above the AI's Daily resistance line AND price closed above Pivot R2 line, the idea is to long and take profit at Pivot R3 line
OR
If price action was below the AI Daily support line AND price closed below Pivot Point S1 line, the idea is to short and take profit at Pivot S2 line
Instead of relying on 100% discretionary (human) trading, the robots will provide trade execution plan and it is entirely up to the human trader's decision to follow.