E Trade Setup: USD/CAD Pair

There is a perfect Trade Setup in USD/CAD forex pair. Please find below the Chart for the same.

(Click on image to enlarge)

USDCAD Pair

Since 07-09-2017 the price has started moving upwards in HIgher Highs and Higher Lows pattern, indicating the change in the trend. But if you look at the pullbacks it is clearly indicating on every new high bear to get active and it pulled the price down.

The price is perfectly moving in a channel with 5:3:5:3:5 wave pattern and has made a wolf wave pattern too (Breakout Failure of the upper trendline).

So, here we have 2 possible trade setups:

1. Short - 1.3126 SL 1.3390 Targets are - 1.2827 , 1.2710

2. Long - 1.3390 SL 1.3125 Targets are - 1.3600, 1.3800

Disclaimer: The above views are only for Educational Purpose. Equity, Commodity & Currency Trading has large potential rewards, but also Large Potential Risk. You must be aware of the risk ...

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Sid Thapar 2 years ago Author's comment

50% retracement 1.2967 has been done of the last upward movement! Its working as a support level! Keep booking Profit... SL trail to cost!! Cheers

Sid Thapar 2 years ago Author's comment

Till now 1.2985! Keep booking profits and keep trailing :) Cheers