USDCAD bounce off from about 1.34 area and slowly going up . Bull waiting for higher high to formed then buy at retracement.

USDCAD Day ( 30 May , 2017 )

Bull looking potential higher high to formed . then long at a pullback

USDCAD H4 ( 30 May , 2017 )

Bull waiting for weekly pivot move of WM2 to WM4 move.

USDCAD 15M ( 30 May , 2017 )

Entry time frame 15M Bull waiting for higher high then pullback to about 1.345 SL 1.335 TP 1.39

9 thoughts on “USDCAD Trade Plan ( 30 May , 2017 )”

  1. Horace Sutherland - FOREX.TODAY says:

    Hi Daniel,

    Great post, it seems we have run into some resistance on the 4Hr at the 21 MA which may take the pair down lower to 1.3306 before making that upward swing.

    What do you think?

    1. Daniel Chan - Forex.Today says:

      Thanks Horace , I notice that price do not move up in straight line , follow your bias then get in the support for Bull and resistant for Bear 🙂

  2. Arlissa Thiedt says:

    Hi, Daniel,

    It does seem like it’s in a strong down trend from going up so much last week. On the 4HR chart, it looks like the 21 EMA is in control of the direction w/o slowing down; there is good angle and separation between the 21&55 EMA. I think it would be a good sell position based on a slight retracement to 1.35 as a short term resistance.

    I hope this helps; this will definitely help my own analysis. Thanks for your time and effort!

    1. Daniel Chan - Forex.Today says:

      thanks 🙂

  3. Daniel Chan - Forex.Today says:

    thanks 🙂 looking forward bull come in to long at WPP

    1. Arlissa Thiedt says:

      Hey, Daniel,

      Just checked back in with the charts and your analysis. What a great way to find the perfect entry! I’m still trying to figure out the fundamentals that create the opportune time to entry. It’s stuck around the WPP right now, but, it might create a double bottom from the 1.35 and head into a long position? What do you think? Also, I see CAD still dependent on oil demand and I’m bullish on oil as a long term bias. Any analysis would be appreciated! And, best of luck!

  4. Daniel Chan - Forex.Today says:

    Thanks Arlissa 🙂

    1. Maryna says:

      Hey Daniel, perfect entry on 15min chart and thanks for breaking down your trades to shorter timeframes for the intraday-traders!

      1. Daniel Chan - Forex.Today says:

        Thanks Maryna 🙂

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