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USD/CAD Potential Upward Movement

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Author: Joe Damien

Joe Damien June 17, 2021 3 Comments

USD/CAD Long-Term Trend: Bullish

Key Resistance Levels: 1.2301, 1.2319, 1.2400

Key Support Levels: 1.2266, 1.2202, 1.2150

Daily Chart:

The price on the daily time frame is trending to the upside where it shifted direction as indicated by the arrow. The market made a huge move to the upside represented by a bullish trending candlestick with a huge body.

USD/CAD Medium-Term Trend: Bullish

15-mins Chart:

On the 15-mins time frame, the pair is trading inside a pennant flag. The price managed to break it to the upside. A lower correction has been posted in the highlighted zone. This move could lead to a move upward again to the target profit.

Signal Idea:

Buy Market Order @ 1.2281

TP 1 @ 1.2300

TP 2 @ 1.2319

Stop Loss @ 1.2271

Trade Safely 🙂

About Joe Damien

Joe is a proven Forex analyst and manual trader with 6 years of full-time trading experience. He is a swing trader that relies on price action, market structure and Fibonacci retracement. His two most successful pairs are CHF/JPY, CAD/JPY, but his expertise allows him to profit on any asset or pair.

3 comments

Akeive lewis
June 22, 2021 at 9:30 pm

I am looking through the free group and I am seeing where some of the signals hit take profit and then for some of the signals I dont see any post of them hitting take profits or stop loss is it that those that arent updated hit the stoploss

Reply
- Patrick Ryan
  June 23, 2021 at 8:06 am
  
  No, the trades that aren’t updated didn’t trigger. We provide all results at the end of each week.
  
  Reply
  - Akeive lewis
    June 23, 2021 at 5:38 pm
    
    How long should I keep the pending order before cancelling it
    
    Reply