USD/CAD - Possible scenarios
Diupdate
Hello everyone,
This is my plan on the USD/CAD currency pair. After a nice swing down, caused by a bounce of resistance area, which was first broken, the pair reached a middle ground which seems to be a very good H4 support area. Also on the Daily time frame we can see that the pair made a “Test bar”, about which you can read on our Blog. I think it is a very powerful candle formation, so my expectations for the pair is to go back up at least to the starting point at the resistance area around 1.3500. On the H4 time frame we can see that the pair is consolidating above the H4 support area around 1.3215, thus forming a square, which is confirmed by the Bollinger Bands. I have inputted two possible scenarios on my graph, in case the pair moves down and breaks the H4 support area. Around 1.3390, a little bit below the Daily and Weekly resistance area from which the downtrend started, we have a previous bottom, which can be the end of a new uptrend from the level we are now, so keep it in mind if you are trading the pair. That is why I divided the area above the square formation in to two Buy Areas, in which you can trade on lower time frames like M30 or M15. I personally prefer the M30 time frame. Below are the respective zones and more info on how to contact us.
Buy Area 1: 1.3290 to 1.3385
Buy Area 2: 1.3400 to 1.3490
Sell Area: 1.3180 to 1.3000
If you have any questions regarding the plan or anything else you can contact us at contact@dmtrading.bg
As usual I will post Live Signals on our Twitter profile, according to this plan:
I will also update the idea here, whenever we have a signal to open or close a trade and how it worked out.
I wish everyone happy trading and a profitable week.
This is my plan on the USD/CAD currency pair. After a nice swing down, caused by a bounce of resistance area, which was first broken, the pair reached a middle ground which seems to be a very good H4 support area. Also on the Daily time frame we can see that the pair made a “Test bar”, about which you can read on our Blog. I think it is a very powerful candle formation, so my expectations for the pair is to go back up at least to the starting point at the resistance area around 1.3500. On the H4 time frame we can see that the pair is consolidating above the H4 support area around 1.3215, thus forming a square, which is confirmed by the Bollinger Bands. I have inputted two possible scenarios on my graph, in case the pair moves down and breaks the H4 support area. Around 1.3390, a little bit below the Daily and Weekly resistance area from which the downtrend started, we have a previous bottom, which can be the end of a new uptrend from the level we are now, so keep it in mind if you are trading the pair. That is why I divided the area above the square formation in to two Buy Areas, in which you can trade on lower time frames like M30 or M15. I personally prefer the M30 time frame. Below are the respective zones and more info on how to contact us.
Buy Area 1: 1.3290 to 1.3385
Buy Area 2: 1.3400 to 1.3490
Sell Area: 1.3180 to 1.3000
If you have any questions regarding the plan or anything else you can contact us at contact@dmtrading.bg
As usual I will post Live Signals on our Twitter profile, according to this plan:
I will also update the idea here, whenever we have a signal to open or close a trade and how it worked out.
I wish everyone happy trading and a profitable week.
Catatan
This plan is still in progress and I am monitoring the pair. If a development occurs I will update the idea and post signals.Order dibatalkan
Hello everyone. I am closing trading on this plan, since it was fulfilled and our Sell Zone was fully covered. We had one opportunity to Sell on the M30 time frame, but we missed it, so no trades were taken on this plan. I will update the pair with a new plan as soon as I have a signal. Good luck!
Pernyataan Penyangkalan
Informasi dan publikasi tidak dimaksudkan untuk menjadi, dan bukan merupakan saran keuangan, investasi, perdagangan, atau rekomendasi lainnya yang diberikan atau didukung oleh TradingView. Baca selengkapnya di Persyaratan Penggunaan.