SubscribeI have reason to think this is going lower.
Ooops, typo... it should read 1.2880, not 1.2280...
BTW, if a pull back does happen then it will be at 1.3215 area where the RBS is - support was broken, so it will come back before dropping from there.
Thread: Usd/Cad
I have reason to think this is going lower.
Ooops, typo... it should read 1.2880, not 1.2280...
BTW, if a pull back does happen then it will be at 1.3215 area where the RBS is - support was broken, so it will come back before dropping from there.
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Asif777 (2019-02-04), Tanveer333 (2019-02-04)
There ya go, an image to back up the commentary - that's all I'm saying mate
BTW, where is your demand zone?
P.S
No offense mate, but it's not called an Ascending Channel... It's called a Bullish Compression.
Can I ask, do you know what they are? And what is to be expected from them?
Let's go! I'm putting you to the challenge
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Compression channel is a sideways channel.
Ascending channel is a made up word.
I know you're not here to prove anything, but hey, now we know that you don't really know what happens when these are formed. It's a shame, I was merely trying to help you... but hey, its ok to be stubborn.. enjoy those huge draw downs you get. I wanted to help you reduce them for better R:R ... oh well.
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Hanif484 (2019-02-04), Tanveer333 (2019-02-04)
With the move to 1.30970, the pullback is more likely to 1.3150.
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Asif777 (2019-02-04), Tanveer333 (2019-02-04)
Possibly, but you also need to consider why Resistance Base Support Flips are more reliable and why price heads there first before reacting.. also, ideally you need to place your Fibo from the most extreme high or low, then drag and drop...
When you use mid-way levels as you have you're not going to get the entire picture of where price will pull back to and it results in having confluence levels being off and if you act off them, your DD will be more than what you're comfortable with.
If you switch back to the Daily Compression, look back to the 3rd recent daily bar... notice how it breaks through support? That's your 1.3215 area where the RBS setup is on the 4HR and price will react from that and then drop.
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Finally this garbage turned around.
Been building a long position thru this recent drop.
I'm targeting 1.3120 minimum, highly possible 1.3200, if it jump to 1.32 within 2 days then I will get out if it grind up over the next few days then I'll be looking for 1.3275
Best to all, was an easy short trade. Congrats to all shorts who made some bank.
EDIT: This is my most HATED long trade of the year so far. I just think being long this garbage is dumb, hate this trade. Please come ANYONE, push the price lower now and stop me out of my misery. Just think of all the boiling hate I will have to sit with if I'm stuck long this over the weekend.
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Hanif484 (2019-02-04), Tanveer333 (2019-02-04)
I use Elliott and Mandelbrot to draw the fibos. maybe you do not get it for that
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Asif777 (2019-02-04), Tanveer333 (2019-02-04)
Current price of usd/cad is 1.31033
By observing all the market rue teen carefully now i can say this pair is in selling trend
most profitable points will be as under
sell 1.31120
tp 1.30250
sl 1.32050
good luck
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Asif777 (2019-02-04), Hanif484 (2019-02-04), Tanveer333 (2019-02-04)
USD/CAD
Resistance and Supporting
Resistance 1 - 1.3094
Resistance 2 - 1.3115
Resistance 3 - 1.3132
Supporting 1 - 1.3085
Supporting 2 - 1.3064
Supporting 3 - 1.3051
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The market trend of pair is Bearish and is in sell position.
Trade Recommendation is SELL
Current rate is 1.3100
1st Resistance: 1.3109
2nd Resistance: 1.3116
3rd Resistance: 1.3129
1st Support: 1.3090
2nd Support: 1.3081
3rd Support: 1.3067
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caprice (2019-02-04)
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