Get started

Usdcadtrade

Looking to go longUSDCAD 1. The last retest off the trend line offered a great opportunity for a buy order so I am looking to possibly do the same again 2. Price is currently on the neck line of an inverse head and shoulder pattern (retest) 3. Retest of trend line taking place as we speak I will look for: 1. A buy signal to print 2. 50ema to be broken (area of value) 3. Targeting previous resistance This setup offers a 1:2 risk to reward ratio **NB - NFP news this afternoon that may violate this setup entirely so expect heavy volatility
Long
by Cmasterza
USDCAD bouncing nicely, remain bullishBuy above 1.3221. Stop loss at 1.3154. Take profit at 1.3387. Reason for the trading strategy (technically): Price has bounced off nicely from our buying area yesterday. We remain bullish above 1.3221 support (horizontal swing low support, horizontal overlap support, fake bearish breakout) for a corrective bounce up to 1.3387 resistance (Fibonacci retracement, horizontal pullback resistance). Stochastic (89,5,3) is seeing strong support above 0.18% where we’re starting to see a nice bounce up from.
Long
by MEX_Exchange
USDCAD testing major support, remain bullishBuy above 1.3221. Stop loss at 1.3154. Take profit at 1.3387. Reason for the trading strategy (technically): Price continues to drop strongly and seems to have turned a corner recently. We remain bullish above 1.3221 support (horizontal swing low support, horizontal overlap support, fake bearish breakout) for a corrective bounce up to 1.3387 resistance (Fibonacci retracement, horizontal pullback resistance). Stochastic (55,5,3) is seeing strong support above 0.18% where we’re starting to see a nice bounce up from.
Long
by MEX_Exchange
USDCAD profit target reached perfectly again, prepare to buyBuy above 1.3288. Stop loss at 1.3251. Take profit at 1.3387. Reason for the trading strategy (technically): Price has dropped perfectly and reached our profit target on USDCAD once again for the third time in a row. We prepare to buy above 1.3288 support (Fibonacci retracement, Fibonacci extension, Elliott wave theory) for a corrective bounce up to 1.3387 resistance (Fibonacci retracement, horizontal pullback resistance). RSI (34) is testing out 39% support and we expect a bounce soon.
Long
by MEX_Exchange
USDCAD profit target reached perfectly, remain bearish Sell below 1.3485. Stop loss at 1.3551. Take profit at 1.3387. Reason for the trading strategy (technically): Price has dropped perfectly from our selling area and has reached our profit target. We prepare to sell further below 1.3485 resistance (Fibonacci retracement, horizontal pullback resistance) for a further push down to 1.3387 support (Fibonacci extension, horizontal swing low support). RSI (34) is holding really well below our 55% resistance and has good downside potential for our drop.
Short
by MEX_Exchange