The Dollar has been weaker for this time and thus all the dollar pairs seems to be bearish. This setup looks good for selling opportunity and aiming for 1.3370. Note- This is my own analysis and thus not to be considered as trading signal, before making any decisions kindly do your own research, as trading is highly risky.
USDCAD recently broke down the uptrend and retested the imbalance area. We can witness a smooth move of 240 pips taking. We will have to wait for price to settle down on Monday as we had NFP On Friday. If you like our work do not forget to follow and like the idea.
price is making HIGHER LOW follow the HL and wait for the price to get into Higher time frame SUPPLY ZONE we further look for LOWER HIGH & LOWER LOWS with good risk to reward we can enter the trade and aim for the recent HIGHER LOWs (marked in green zone)
: entry & exit is very important : try to manage money management : know your stop loss : find the chart pattern / analysis the chart before you enter
This is risky Before entering the trade do your own research!
USD/CAD 01.08.2022 Major Points : 1.25250 : 1.24040
: entry & exit is very important : try to manage money management : know your stop loss : find the chart pattern / analysis the chart before you enter
usdcad day trade... sell 1:3 risk.......... goodluck............. tele gram: veeran_vaalarivan
According to elliott wave rule , in an impulse wave 4 cannot intervene into the the territory of the wave 1 . The current structure shows that USDCAD is forming a wave 4 & is likely to end soon. One should go short on any rise keeping SL of 1.2595 & look for the target of 1.2285 and 1.20500 and below.
USDCAD Forecast IMO Give a Like and Feel free to share your opinions in the comment! Happy Trading 😊
USDCAD Short R/R: 1:4 Feel free to share your opinions in the comment!
So after the NFP, we didn't expect much momentum in the market and we have ISM Services PMI. I'm expecting negative reports according to my strategy.
Please check the Long term analysis for the bigger picture; As per the bigger picture we know there is a Flat structure forming and hence we will have a downward Impulse; In short we will have a 5 Wave structure formed in the downward direction; Below is the Wave 1 complete picture verifying every Wave in the Wave 1 which confirms completion of the Wave 1 and now...