Buy after the breakout of price level indicated by yellow line. close the trade around ~30 pips. TP and enjoy ! keep it simple :)
Downside is still attractive on this daily chart.
A sweet and quick sell entry ! Put pending sell stop after the breakout. Keep it simple :)
We see a big fall from current level - We book our first profit @ 1.3170 and second @ 1.3050
The Canadian dollar and crude oil is the inverse relationship, if crude oil continued to decline, the Canadian dollar will continue to weaken. So under the premise of falling crude oil prices, we can not make a choice to buy Canadian dollars. I prefer a price correction to re sell the Canadian dollar.
I hold a point:Good charts does not more words to explain! Good luck!
We see the price rejection from 1.3210 second time that makes double top on 30M chart. We take short position and book profits at 1.3070.
Choose Buy limit @1.307-1.308 SL-1.30 TP1-1.318 TP2-1.33 I hold a point:Good charts does not more words to explain! Good luck!
We see the price move between the range of 1.280 to 1.360 for few more weeks and than a big upward move to 1.450 level - We have to see the price action on the lower frame charts to analyze the short term trade setup - But, In longer term we are LONG on this pair.
Choose Buy limit @1.303 SL-1.30 TP-1.309 TP2-1.318 I hold a point:Good charts does not more words to explain! Good luck!
USDCAD price finding back the demand area, where buyers try to get as lower as they can to fulfil their orders. We will see what will happen when it touch the zone. Low SL, high expected TP. GL..
If the price will not break 1.2900 than we see a upwards movement 1.3400
Sell below 1.3180. Stop loss at 1.3600. Take profit at 1.2500. Reason for the trading strategy: We remain bearish below 1.3180 resistance (Fibonacci retracement, bearish pullback) especially with the break of our long term ascending-turned-resistance line signalling a bearish exit to be seen for a drop towards at least 1.2500 support (major swing low support,...
We take short position at the opening of the market. ENTRY: 1.30200 TP: 1.29700 SL:1.31500
This is my analysis for the coming few weeks for USDCAD. Currently USDCAD is in a solid symmetric Parallel Channel with a potential of forming another AB=CD pattern ending at the extreme high of the Channel @ 1.38687 When we look back at the last month of 2015 until Feb 2016, there is an interesting area of buyers and sellers getting caught in what had looked like...
Price made a break to the downside through the phase line of the channel, came back, tested it and got rejected. Very tight SL but still some room for another possible test.