Trade Recap (USDJPY & USDCAD) 15 Jan 2024Hello, in this video I am going through my recent positions on USDJPY and USDCAD. Both were missed positions and I hope to learn from them.
USDCAD trade ideas
another oneMoney made for the day $ so will take this half a percent risk, not entering unless we have heavy bottom candles
no trend line which isnt nice
but meeting zone, fib and 50 EMA,
if rejection shows, ill enter for a 1:1.5 on 1/2% risk
A POSSIBLE SELL SET UP ON USDCADUSDCAD is reacting on a strong resistance and its all time high .lets wait for the break of the trend line and retest to figure out our sell entry.
USDCAD Sell positionusdcad ( 4H / 1D )
Market Price: 1.44055
Sell now : 1.44055
Tp1 : 1.42310
Tp2 : 1.41290
TP3: 1.40000
Sl : 1.44740
Traders, if you liked this idea or if you have your own opinion about it, write in the comments. I will be glad ❤️
Remember this is a position that was found by me and it is a personal idea not a financial advice, you are responsible for your loss and gain.
USDCAD PullbackThere is some key econ data coming out this week. Looking to short into key Fib levels before looking for longs again. The dollar is very strong, however I believe is over extended a a pullback is next before we see higher highs.
Going out of time correction rangeIf price break out the time correction range strongly, it may reach to the target easley.
USDCAD Potential UpsidesHey Traders, in today's trading session we are monitoring USDCAD for a buying opportunity around 1.43200 zone, USDCAD is trading in an uptrend and currently is in a correction phase in which it is approaching the trend at 1.43200 support and resistance area.
Trade safe, Joe.
USDCAD Sellers In Panic! BUY!
My dear friends,
Please, find my technical outlook for USDCAD below:
The price is coiling around a solid key level - 1.4316
Bias - Bullish
Technical Indicators: Pivot Points Low anticipates a potential price reversal.
Super trend shows a clear buy, giving a perfect indicators' convergence.
Goal - 1.4352
Safe Stop Loss - 1.4293
About Used Indicators:
The pivot point itself is simply the average of the high, low and closing prices from the previous trading day.
———————————
WISH YOU ALL LUCK
Short trade
Pair USDCAD
Sellside
Mon 13th Jan 25
10.30 am
Tokyo Session PM
Entry 1.44198
Profit level 1.43200 (0.69%)
Stop level 1.44340 (0.10%)
RR 4.96
Reason: Observing price action since the 7th of January and reaching a pivotal supply level on the 30-minute TF seemed indicative of a Sellside trade.
USD/CAD Bulls Eye Resistance for Fifth WeekUSD/CAD has been trading just below resistance for over a month now at the 1.618% extension of the 2023 advance at 1.4483 . Note that the upper parallel of the ascending pitchfork continues to cap the December breakout.
Initial support rests with the 75% parallel (currently ~ 1.43 ) with bullish invalidation now raised to 1.4099-14115.
Ultimately a breach / close above the 2016 close high at 1.4538 is needed to fuel the next major leg of the advance towards 1.4660/90 - a region defined by the 78.6% retracement of the 2003 decline, the 1.618% extension of December advance and the 2016 high. Look for a larger reaction there IF reached.
MB
UDSCAD Sell SetupPrice had broken the sideway movement support at 1.4335, and risen back to the H4 FVG area between 1.4406 - 1.4440, presenting an entry opportunity.
-------------
Disclaimer
The analysis and content provided here are intended solely for personal journal and educational purposes. This information does not constitute financial advice, investment advice, or a recommendation to buy or sell any securities. Trading involves significant risk, and you should only trade with money you can afford to lose. Past performance is not indicative of future results. Always conduct your own research and consult with a qualified financial advisor before making any investment decisions.
AUD/CAD Consolidation: Key Levels to Watch for a BreakoutAUD/CAD is currently trading within a symmetrical triangle pattern, moving sideways between the green support zone and the red resistance zone.
The lower rising trendline is providing strong support as the price approaches the apex of the pattern.
Stay tuned for a potential breakout above the red resistance zone.
DYOR, NFA
SHORT in USDCADHello fellow traders,
We have witnessed a notably bullish trend in the USD over the past few weeks. However, I am anticipating a significant correction soon. Based on technical analysis and the recent rise in oil prices, I am considering opening a short position on USDCAD.
What are your thoughts on this strategy? I would appreciate any insights or opinions you might have.
usdcad longingI expect USDCAD longing from this demand zone to the target price.
this is 1 to 16RR projection.
USDCAD ahead of CPIagain i see another oppurtunity ahead of CPI. I won NFP now lets win CPI scared money don't make money
4-hr USD/CAD: A Set up for 100 Pip JumpThe Dollar remains strong, with buyers firmly in control since the Fed's December comments hinting at fewer 2025 rate cuts. This drove a 400-pip rally in USD/CAD, now facing resistance near 1.4450 as early buyers take profit. Corrections are part of healthy trends, and the pair is testing support at the 23% Fibonacci retracement. A dip below this level toward 38.2% Fibonacci is possible.
For an optimal risk-reward setup, we prefer buying near 1.43, targeting a rise toward or beyond 1.44. This view is reinforced by the Golden Cross—a strong buy signal indicating upward momentum.
However, CPI data today could shift dynamics. If inflation falls short of expectations, the USD might face a deeper correction toward 1.42, aligning with the 50% Fibonacci retracement level.
Potential bullish rise?The Loonie (USD/CAD) has reacted off the pivot which acts as an overlap support and could rise to the 1st resistance which has been identified as a pullback resistance.
Pivot: 1.4342
1st Support: 1.4323
1st Resistance: 1.4382
Risk Warning:
Trading Forex and CFDs carries a high level of risk to your capital and you should only trade with money you can afford to lose. Trading Forex and CFDs may not be suitable for all investors, so please ensure that you fully understand the risks involved and seek independent advice if necessary.
Disclaimer:
The above opinions given constitute general market commentary, and do not constitute the opinion or advice of IC Markets or any form of personal or investment advice.
Any opinions, news, research, analyses, prices, other information, or links to third-party sites contained on this website are provided on an "as-is" basis, are intended only to be informative, is not an advice nor a recommendation, nor research, or a record of our trading prices, or an offer of, or solicitation for a transaction in any financial instrument and thus should not be treated as such. The information provided does not involve any specific investment objectives, financial situation and needs of any specific person who may receive it. Please be aware, that past performance is not a reliable indicator of future performance and/or results. Past Performance or Forward-looking scenarios based upon the reasonable beliefs of the third-party provider are not a guarantee of future performance. Actual results may differ materially from those anticipated in forward-looking or past performance statements. IC Markets makes no representation or warranty and assumes no liability as to the accuracy or completeness of the information provided, nor any loss arising from any investment based on a recommendation, forecast or any information supplied by any third-party.
US DOLLAR WEAKENING WHILE CANADIAN DOLLAR STRENGTHENING!With USD/CAD showing weakness, the pair is likely to fall and revert to its mean.
N.B!
- USDCAD price might not follow the drawn lines . Actual price movements may likely differ from the forecast.
- Let emotions and sentiments work for you
- ALWAYS Use Proper Risk Management In Your Trades
#usdcad
#dollarindex
#canadiandollar
USD_CAD WILL GO UP|LONG|
✅EUR_USD is trading in an uptrend
Along the rising support line
Which makes me bullish biased
And the pair is about to retest the rising support
Thus, a rebound and a move up is expected
With the target of retesting the resistance above at 1.4440
LONG🚀
✅Like and subscribe to never miss a new idea!✅
USDCAD Swing setup possibly forming....On the Weekly timeframe, USDCAD is slowly nearing a very interesting area. Watch this carefully, might take 1-3 weeks to reach there. This area has two times before been slightly touched. Jan 2016, REJECTED. March 2020, REJECTED.
My dream scenario is a triple tap to this resistance line and immediately followed by a big SELL.
This can be traded as a swing trade, or by using the sell off weeks for smaller day/intraday trades.
My plan is to open one swing trade with 0.5% risk and keep it running for as long as it takes. Then I will use another 0.5% risk on this pair for day trading on the way down.
Evening Forecast 14/01/2024 (DXY & TOP 6)Hello! this is my evening forecast on 14/01/2024 (DXY & TOP 6). Please do let me know your thoughts.
USDCADUSDCAD is in bearish trend.
Potantially printing LH and LL.
No sign of reversal here.
Bearish continuation Flag pattern also form.
we wait for the breakout of flagpole.
Bearish reversal off 61.8% Fibonacci resistance?The Cable (USD/CAD) is rising towards the pivot which liens up with the 61.8% Fibonacci retracement and could drop to the 1st support.
Pivot: 1.4403
1st Support: 1.4340
1st Resistance: 1.4442
Risk Warning:
Trading Forex and CFDs carries a high level of risk to your capital and you should only trade with money you can afford to lose. Trading Forex and CFDs may not be suitable for all investors, so please ensure that you fully understand the risks involved and seek independent advice if necessary.
Disclaimer:
The above opinions given constitute general market commentary, and do not constitute the opinion or advice of IC Markets or any form of personal or investment advice.
Any opinions, news, research, analyses, prices, other information, or links to third-party sites contained on this website are provided on an "as-is" basis, are intended only to be informative, is not an advice nor a recommendation, nor research, or a record of our trading prices, or an offer of, or solicitation for a transaction in any financial instrument and thus should not be treated as such. The information provided does not involve any specific investment objectives, financial situation and needs of any specific person who may receive it. Please be aware, that past performance is not a reliable indicator of future performance and/or results. Past Performance or Forward-looking scenarios based upon the reasonable beliefs of the third-party provider are not a guarantee of future performance. Actual results may differ materially from those anticipated in forward-looking or past performance statements. IC Markets makes no representation or warranty and assumes no liability as to the accuracy or completeness of the information provided, nor any loss arising from any investment based on a recommendation, forecast or any information supplied by any third-party.
