USDCAD BEARISH SHORT OUTLOOKi would like to get your guys input on this projection.
any one is welcome to share their thoughts on this
CADUSD trade ideas
USDCAD (H4) - Probable Next Move.Trade Reason:
1. Weekly Down Trend.
2. H4 weak bearish.
3. H4 OB Aria.
Hello Friends!
I hope it will touch the "1.34958" level then it can make some corrections. After her correction, it has more chances to touch the "1.34636" level. But if it create counter setup, then close it instant.
Do you have any questions, suggestions, or feedback? Then write a comment or private chat. If you need any help, info, or analysis. Then knock me without any hesitation.
…Thank you…
USDCAD H4 | Bearish Reversal Based on the H4 chart analysis, wait for price to pullback to our sell entry at 1.3500, which is a pullback resistance.
Our take profit will be at 1.3443, a pullback support level close to 78.6% Fibonacci retracement.
The stop loss will be at 1.3543, an overlap resistance level.
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usdcad shortUSDCAD broke the support at 1.3487. I will open a short position from here to the lower support. What do you think?
usdcad shortUSDCAD broke the support at 1.3487. I will open a short position from here to the lower support. What do you think?
USDCAD SELL SHORTStructure: The chart presents a descending structure with lower highs and lower lows, indicating a bearish trend. The price is nearing a key support zone, and the pattern suggests a potential continuation of the downtrend.
Trade Setup: The trade setup involves a short position, aiming for a decline towards the 1.35000 area (green zone), which is a strong support level. The stop loss is placed at 1.37678 (red area) to cover against the risk of a reversal and the trend breaking to the upside.
USDCAD= SellTrend to the downside continues in the lower time frame (4 hour) in addition to further contributing towards more divergence before the initial reversal to the upside so it can continue with the weekly uptrend that seems to be forming a running flat.
usd/cad having a short position After briefly analyzing the chart I believe that usd/cad is going to go for a short position
USD/CAD H1 | Overlap resistance at 50% Fibonacci retracementUSD/CAD is rising towards an overlap high resistance and could potentially reverse off this level to drop lower.
Sell entry is at 1.3537 which is an overlap resistance that aligns with the 50.0% Fibonacci retracement level.
Stop loss is at 1.3575 which is a level that sits above the 61.8% Fibonacci retracement level.
Take profit is at 1.3492 which is an overlap support that aligns with the 38.2% Fibonacci retracement level.
High Risk Investment Warning
Trading Forex/CFDs on margin carries a high level of risk and may not be suitable for all investors. Leverage can work against you.
Stratos Markets Limited (www.fxcm.com):
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 62% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
Stratos Europe Ltd (www.fxcm.com):
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 59% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
Stratos Trading Pty. Limited (www.fxcm.com):
Trading FX/CFDs carries significant risks. FXCM AU (AFSL 309763), please read the Financial Services Guide, Product Disclosure Statement, Target Market Determination and Terms of Business at www.fxcm.com
Stratos Global LLC (www.fxcm.com):
Losses can exceed deposits.
Please be advised that the information presented on TradingView is provided to FXCM (‘Company’, ‘we’) by a third-party provider (‘TFA Global Pte Ltd’). Please be reminded that you are solely responsible for the trading decisions on your account. There is a very high degree of risk involved in trading. Any information and/or content is intended entirely for research, educational and informational purposes only and does not constitute investment or consultation advice or investment strategy. The information is not tailored to the investment needs of any specific person and therefore does not involve a consideration of any of the investment objectives, financial situation or needs of any viewer that may receive it. Kindly also note that past performance is not a reliable indicator of future results. Actual results may differ materially from those anticipated in forward-looking or past performance statements. We assume no liability as to the accuracy or completeness of any of the information and/or content provided herein and the Company cannot be held responsible for any omission, mistake nor for any loss or damage including without limitation to any loss of profit which may arise from reliance on any information supplied by TFA Global Pte Ltd.
The speaker(s) is neither an employee, agent nor representative of FXCM and is therefore acting independently. The opinions given are their own, constitute general market commentary, and do not constitute the opinion or advice of FXCM or any form of personal or investment advice. FXCM neither endorses nor guarantees offerings of third-party speakers, nor is FXCM responsible for the content, veracity or opinions of third-party speakers, presenters or participants.
USDCAD Overview.The USD/CAD 4-hour chart shows a bearish setup, with price action likely to revisit the Fair Value Gap (FVG) between 1.35552 and 1.35899 before continuing its downward movement. The recent break of structure (BOS) at the 1.35324 level confirms a shift in market sentiment, with sellers gaining control.
The price is expected to make a short-term pullback into the FVG, where it may face resistance, but it’s unlikely to reach the liquidity zone marked with "$$$" above. After tapping into the FVG, the market is anticipated to reject this level and resume its bearish trend.
The final target for this move is around 1.33748, with a stop-loss placed just above the FVG at 1.35900 to manage risk.
OANDA:USDCAD
01.10.24 Morning ForecastPairs on Watch -
FX:GBPNZD
FX:EURAUD
FX:USDCAD
A short overview of the instruments I am looking at for today, multi-timeframe analysis down to what I will be looking at for an entry. Enjoy!
USD/CAD Weekly Outlook (1H Timeframe): Distribution Phase.Wyckoff Distribution Phases
Phase A, B, C:
Wyckoff distribution phases indicate a potential reversal from an uptrend to a downtrend, especially with the UTAD (Upthrust After Distribution) marking exhaustion.
UTAD and UT:
These indicate the last buying attempts before the market turns bearish, potentially signaling short entries.
LPSY (Last Point of Supply):
Final points before the major price drop, leading to distribution completion.
Harmonic Pattern Analysis
Harmonic Pattern Completion:
Point D aligns with the 0.618 Fibonacci level, a potential reversal zone where bearish continuation could begin.
Fibonacci Confluence:
The harmonic pattern completes near the 0.618 retracement, signaling a reversal.
Elliott Wave Analysis
Wave Count (0-4):
A corrective structure completing the Wave C-Y count, indicating a potential bearish continuation.
Wave 5 Expectation:
The final move down after the distribution phase could complete the wave structure.
Smart Money Concepts (SMC)
BOS (Break of Structure):
An internal BOS signals a shift to the downside, with price retesting the LPSY zone for continuation.
POC (Point of Control):
A volume-heavy zone at 1.3538, likely to cause price reactions, confirming or rejecting bearish moves.
ICT (Inner Circle Trader Concepts)
Sell-Side & Buy-Side Liquidity:
The market grabbed sell-side liquidity after the distribution, and buy-side liquidity may be targeted near 1.3580 before reversing.
Key Levels to Watch
Resistance Line (1.3580):
A crucial reversal point aligning with the Wyckoff distribution and harmonic pattern completion.
Support Line (1.3419):
Potential downside target once the reversal happens, indicating the next major area of interest.
Invalidation Level (1.3660):
A move above this invalidates the bearish outlook and signals continuation of the uptrend.
Week Plan
Bearish Bias:
Post-UTAD, expecting price to hit 1.3580 and then reverse downward toward 1.3540 and 1.3419.
Elliott Wave Completion:
The corrective structure is expected to finalize with a bearish impulse.
SMC Focus:
Watch for liquidity grabs to trigger the move down.
Bearish reversal off pullbacvk resistance?The Loonnie (USDD/CAD)is rising towards the pivot which acts as a pullback resistance and could reverse to the overlap support level.
Pivot: 1.3549
1st Support: 1.3491
1st Resistance: 1.3614
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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.
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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.
USDCAD - 4hrs ( Buy Trade Target Range 150 PIP )🟢Pair Name : USD/CAD
Time Frame : 4hrs Chart / Close
Scale Type : Large Scale
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spreading knowledge among us and to clarify the most importan+t points of entry, exit and entry with more than 5 reasons
We seek to spread understanding rather than make money
🟢Key Technical / Direction ( Long )
Type : Mid Term Swing
———————————
Bullish Break
1.35200 Area
Reasons
- Major turn level / D
- Visible range Hvn
- Inner Trend Break
- Choch Break
- Day High Area
Bearish Reversal
1.37000 Area
Reasons
- Major Turn level
- Visible Range lvn
- Pattern Target
- Major Choch Zone
USDCAD is beginning a new bullish trend Bullish trend begin based on the following formations ;
:- A big double bottom
:- An inverse head and shoulder on second bottom
:- A break and retest above above the previous high
:- A candlestick confirmation on 1 hour time frame ( doji) upon retest
Which give us 4 confluences to enter LONG position
USDCAD: Sell signalUSDCAD is almost neutral on its 1D technical outlook (RSI = 44.464, MACD = -0.002, ADX = 19.851) as it rebounded on August's low. This is a similar price action to the April-May 2023 sequence and as long as the 1D MA50 contains the price under it, we will be bearish. Our Target is just over the S1 Zone (TP = 1.32500).
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USDCADOn H1, price has broken out of the descending trendline, this shows a change in direction. This is an opportunity to go long.
NICE FVG on a chart idea I love this sort of charts and trends where the FVG is available. BOS break below and retest on the FVG is where i will be looking at the set up. Not today Due to two Back to back wins on GU plus its Monday.
A sellOverall trend bearish, current structure bearish, liquidity cleared and created downward, expecting price to clear the liquidity created
A sellOverall trend bearish, current structure bearish, liquidity cleared and created downward, expecting price to clear the liquidity created
sell idea on usdcad, so far from my technical analisis, i am seeing the engulfing and a rejection from the top, so i am positive on a sell , now
USDCADHeading to weekly bottom zone. Currently testing weekly and daily zones. Look for the necessary price action for sells.
