CADUSD trade ideas
USDCAD DAILY TECHNICAL ANALYSIS Trading Ideas-
Long positions above 1.2818 with targets at 1.3234 & 1.3395
Alternative scenario
If price goes down 1.2818 look for 1.2521 & 1.2407 as targets.
Supports and resistances
1.2521 & 1.2407
1.3234 & 1.3395
USDCAD: CUP & HANDLE BREAKOUTThe Cup with Handle is a bullish continuation pattern that marks a consolidation period followed by a breakout. It was developed by William O'Neil and introduced in his 1988 book, How to Make Money in Stocks.
As its name implies, there are two parts to the pattern: the cup and the handle. The cup forms after an advance and looks like a bowl or rounding bottom. As the cup is completed, a trading range develops on the right-hand side and the handle is formed. A subsequent breakout from the handle's trading range signals a continuation of the prior advance.
Trend: To qualify as a continuation pattern, a prior trend should exist. Ideally, the trend should be a few months old and not too mature. The more mature the trend, the less chance that the pattern marks a continuation or the less upside potential.
Cup: The cup should be “U” shaped and resemble a bowl or rounding bottom. A “V” shaped bottom would be considered too sharp of a reversal to qualify. The softer “U” shape ensures that the cup is a consolidation pattern with valid support at the bottom of the “U”. The perfect pattern would have equal highs on both sides of the cup, but this is not always the case.
Cup Depth: Ideally, the depth of the cup should retrace 1/3 or less of the previous advance. However, with volatile markets and over-reactions, the retracement could range from 1/3 to 1/2. In extreme situations, the maximum retracement could be 2/3, which conforms with Dow Theory.
Handle: After the high forms on the right side of the cup, there is a pullback that forms the handle. Sometimes this handle resembles a flag or pennant that slopes downward, other times it is just a short pullback. The handle represents the final consolidation/pullback before the big breakout and can retrace up to 1/3 of the cup's advance, but usually not more. The smaller the retracement, the more bullish the formation and significant the breakout. Sometimes it is prudent to wait for a break above the resistance line established by the highs of the cup.
Duration: The cup can extend from 1 to 6 months, sometimes longer on weekly charts. The handle can be from 1 week to many weeks and ideally completes within 1-4 weeks.
Target: The projected advance after breakout can be estimated by measuring the distance from the right peak of the cup to the bottom of the cup.
TRADING STRATEGY: Buy USDCAD on cmp , add on dips , keeping SL of 1.2900 look for the target of 1.3400/1.35300
USDCAD: BearishUSDCAD trading in a parallel channel and it looks like the correction is still pending. Rejected from the previous resistance zone USDCAD is likely to trade lower in the coming sessions.
Trading strategy:
Keeping SL of 1.295 any rise should be taken as selling opportunity for the target of 1.28500/ 1.28000
USDCAD: TECHNICAL ANALYSIS. Hello traders,
Wave B has probably ended at 1.29665 zone. Wave C is supposed to materialise towards the support zone at 1.27320 .
Thanks.
USDCAD MarkupsHere we notice wyckoff distribution(15min) tested with another Re-distribution on the (3 min) for the reason of 3min OrderBlock with imbalance.
Now expected to test the 3min extreme POI over the 5min recent POI. Lets see how its play.
USDCAD DAILY TECHNICAL ANALYSIS Trading Ideas-
Long positions above 1.2727 with targets at 1.3072 & 1.3236
Alternative scenario
If price goes down 1.2727 look for 1.2521 & 1.2407 as targets.
Supports and resistances
1.2521 & 1.2407
1.3072 & 1.3236
SELL USDCAD LONG TERM PREDICTIONBased on fibonacci levels and EXTENSTION
we predict that usdcad should touch 1.0500 in next one and half year
NEW YORKSESSION SELL IDEA. 28 JUNE 2022USDCAD has broken a 4H supply area and is going down to fill those big daily imbalances.
Before going downwards it is trying to catch some orders, It will probably do it in the upcoming new york session.
So this is a sell limit to get in the rally with BIG PLAYERS to make some profits.
USDCAD DAILY TECHNICAL ANALYSIS Trading Ideas-
Long positions above 1.2727 with targets at 1.3072 & 1.3236
Alternative scenario
If price goes down 1.2727 look for 1.2521 & 1.2407 as targets.
Supports and resistances
1.2521 & 1.2407
1.3072 & 1.3236
USDCAD: EXPANDED FLATAfter a strong rally , USDCAD currency pair has formed an Expanded flat structure and is likely to trade lower in its wave-c in the coming trading sessions. Go short on cmp with SL of 1.30800 and look for the tgt of 1.28500
USDCAD based on trend and smcprice taking out highs and breaking structure lower, setup repeated on 1 m timeframe. until the significant high is broken, shorts can be taken
USDCAD ANALYSIS Wait for the 1.2951 level breakout down' after entering the sell position
Target 🎯1.2919
USDCAD ANALYSIS It's time to sell support level trend line breakout after entering the trade and another of 1.2950 price level breakout after entering the sell position
Target 🎯1.2919
USDCAD Trading Plan - 16/Jun/2022Hello Traders,
Hope you all are doing good!!
I expect USDCAD to go DOWN after finishing correction.
Look for your SELL setups.
Please follow me and like if you agree or this idea helps you out in your trading plan.
Disclaimer: This is just an idea. Please do your own analysis before opening a position. Always use SL & proper risk management.
Market can evolve anytime, hence, always do your analysis and learn trade management before following any idea
USDCAD DAILY TECHNICAL ANALYSIS Trading Ideas-
Long positions above 1.2678 with targets at 1.3072 & 1.3236
Alternative scenario
If price goes down 1.2678 look for 1.2521 & 1.2407 as targets.
Supports and resistances
1.2521 & 1.2407
1.3072 & 1.3236
USDCAD DAILY TECHNICAL ANALYSIS Trading Ideas-
Long positions above 1.2678 with targets at 1.3072 & 1.3236
Alternative scenario
If price goes down 1.2678 look for 1.2521 & 1.2407 as targets.
Supports and resistances
1.2521 & 1.2407
1.3072 & 1.3236
USDCAD 4H chart looks bullishUSDCAD 4H chart looks bullish
TP 1 > 1.26632
TP 2 > 1.27
On applying Fibonacci retracement it show a accurate resistance level at 1.27 may be looks bearish after hit the 50% level of retracement
