Our trade plan with the CAD has stayed the same so far since last week, but time has allowed us to refine our trade plan. We were looking for 1 of 3 retrace areas to join the downtrend with the MPP as our area of choice around 1.30-1.303. Hopefully the Jackson hole event will give the pair just enough push to this area for the bears to get back in the game, UNLESS!!! Janet Yellen says something that would be a real game changer for the USD.

In any case here are two scenario’s which I am expecting for the USDCAD pair.

Trade Safe.

USDCAD H4 Scenario 1

At time of writing this scenario seems the most probable

USDCAD H4 Scenario 2

This is the preferred Scenario I am waiting for on this pair

3 thoughts on “USDCAD PRE YELLEN SPEACH”

  1. adamp says:

    Hi Guy, how are you? The setup looks good my friend…all hinging on tomorrow.

  2. Brendon Davis says:

    With you on this, Great plan, keep up the great work ….

  3. Ebony Givens says:

    I followed your thought process, and actually (for the first time- that was an ordeal to figure out, hey I’m a newbie 🙂 set an alert in my MT4, for when price hit that 50-61.8 fib range. Ironically right after the market’s closed, I got an alert. The market closed with price right in that range, per my chart. Looks like your second scenario was trying to set itself up! (I’m just glad to be STARTING to understand ANY of this). Thanks for posting, too! I am learning a lot by looking at these posts and understanding the thought processes! I want to learn to successfully trade for sure, but I want to UNDERSTAND why I am doing what I am doing, and not just guessing. I may still be wrong, but at least I have some understanding, herein!

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