Hi fellows, USDCAD is setting up for big wave. Price erasing last 5 days gain in a single day. Which means that selling pressure is so strong and USDCAD forming new top on current price in recent past weeks. Before entering in the market watch for pullback on lower time frame and then look for sell. Follow me on lower time frame for pullback. This trade setup has a huge potential.
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Watch for TCP fellows
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TCP is forming on lower time frame like 1hr currently it looks like sharp to the upside so let it complete it self then look for sell.
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Here is the update fellows. It is forming TCP it needs some time.
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Trend continuation pattern is developing one more upside move is possible here is the update fellows. Be patient and market time to complete the pattern formation. As long as price gonna stay below the impulse setup is valid.
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Bears gaining momentum watch for strong breakout on previous low.
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If price close above the previous high then it will change the pattern formation. TCP is about to complete. Watch TCP top here is the update.
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Watch for strong break out today. If we dont see strong breakout today then one more up is possible fellows.
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Watch the break out fellows. Price trying to break the flag.
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Breaking fellows. Get ready for next job fellows. Now watch for the last low for change in pattern formation if price keep falling then good luck for further downside. In case price stop at last lowe and change the pattern formation then we will analyse the change in pattern formation.
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Here we got the change in the pattern formation but we are still short on it as long as price will stay under the previous high we are short on it. Current Pattern is still TCP so watch the top fellows. In case price break up then we will look for next possible pattern formation,
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USDCAD is in bigger correction. Soon we gonna see breakdown on this pair. If price do not break down then keep selling this pair from top keep taking small profit on bottom and if you will see that price is breaking the bottom then hold your trade up top the 1.32000. Remember selling on breakout no gonna give you good risk reward ratio so watch for sell from top. In case price break up and form new top the we will watch for impulse again from top for any selling. Here is the update.
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So finally price has broken down the TCP now watch for the continuation of the trend fellows. In case price gonna change the previous TCP formation then we will analyse that formation.
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Its time to manage the trade and wave which is on its way so good luck those who are in to this trade.
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If i will see another TCP formation or TRP formation i will update the idea.
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This pair is doing and amazing job fellows. Here is the update. Watch for breakout and if do not break down then watch the top for sell.
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Watch for breakout. No selling on breakout. Those fellows who are holding short from top Watch for breakout. Those who are looking for sell please watch for breakout and look for another TCP. Selling form current price may give you losing trade. Good Luck fellows and enjoy the USDCAD.
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Breaking Further downside possible. Enjoy the USDCAD fellows
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I hope you fellows are in this trade and have not cut your profit early. More downside is possible.
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So far this pair is doing an excellent job. Watch price action under the trend line fellows.
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Hi fellows, So finally price is about to hit the trend line get ready for price action.
Hello Sir!! This pair has been quite challenging on the patience side, but we finally have reached 1.3327 do we believe this is a good place to begin a long position 1.32xx or should we wait for the potential breakout below 1.32 remaining in short? As always your expertise is greatly appreciated!
Bo
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Nice one, reallky nice tracking and updating. Not trading, but learning by your example. Thank You, Sir~!~
@Wave-Trader, @Mc-Fly you both are extremely appreciated, thank you guys for your knowledge, experience, and generosity sharing information. It's definitely fascinating!