Breaking News

USD/CAD Potential Downward Movement

USD/CAD Long-Term Trend: Bearish

Key Resistance Levels: 1.2695, 1.2775, 1.2853

Key Support Levels: 1.2550, 1.2495, 1.2453

Daily Time-frame:

The price on the higher time frame was trading in a range for a few weeks and recently made an unsuccessful attempt to break the zone to the upside. After a breakout to the upside, the price faced rejection and reversed sharply. The price has broken the downward range.   

USD/CAD Medium-Term Trend: Bearish

1-Hour Time-frame:

On the lower time frame, the price is moving in the major trend’s direction. We are seeing a few rejection wicks and price is continuing the trend. Support if 1.2612 is also broken and there was a retest before the price continued the momentum.

Signal Idea:

Sell Stop Order @ 1.2586

TP 1 @ 1.2529

TP 2 @ 1.2474

Stop Loss @ 1.2642

Trade Safely 🙂

About Vipul Rathaur

A trader with more than six years of experience, Vipul is a discretionary trader and uses multi time frame analysis for his analysis and price action for his trade signals. Believes that risk management is the secret to making it in this world. He trades major Forex pairs, Indices, and Commodities.

5 comments

  1. Hi guys,
    Are you still keeping the position open?

  2. Hey Vipul, is this trade still valid? I am in in DD and thinking about to close but want to hear your Opinion 😉

    • Hi,
      We have had trades that missed SL by a few pips and went on to hit TP1 and TP2. So its always best to wait for either SL or TP unless otherwise updated in the group. If you are in DD and not comfortable holding then i would advise you to reduce the position size.
      Happy Trading

      • Thx, i agree. As i use 1% its fine. I will wait a bit more. It needs to break the Daily Trandline where its rejected now two times

Leave a Reply

Your email address will not be published.

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Download My Free Robot

Get your Robot Now!






Free Robot!