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Vikinsa's USDCAD Journal

  • #1
  • First Post: Edited Dec 27, 2019 4:41pm Dec 23, 2019 2:38pm | Edited Dec 27, 2019 4:41pm
USDCAD

All trades, systems, strategies are for my personal use only. I do not intend to give any kind of investment or financial advice of any sort. I use this thread only to log my analysis, planning, execution and results of trades. If you seek any value out of my posts, you are most welcome but please do so only educational purposes.

https://www.tradingview.com/u/vikinsa/

My Strategy Discussion: https://www.forexfactory.com/showthread.php?p=12678892

AUDUSD Trade Analysis Journal: https://www.forexfactory.com/showthread.php?t=970850
EURUSD Trade Analysis Journal: https://www.forexfactory.com/showthread.php?t=970846
GBPUSD Trade Analysis Journal: https://www.forexfactory.com/showthread.php?t=970847
USDCAD Trade Analysis Journal: https://www.forexfactory.com/showthread.php?t=970851
USDJPY Trade Analysis Journal: https://www.forexfactory.com/showthread.php?t=970848
GOLD Trade Analysis Journal: https://www.metalsmine.com/showthread.php?t=971472
Technical Analyst & Trader @ Vikinsa
  • #2
  • Dec 25, 2019 5:19am Dec 25, 2019 5:19am
USDCAD has been slowly moving downwards as we can see on the weekly time frame and 200sma. This is also being supported by the rise in AUDUSD, GBPUSD and EURUSD. Dollar seems to be slowly going down. So we need to be careful of long positions on dollar pairs such as USDCAD.

A bollinger band squeeze is coming on USDCAD which can cause a breakout. We at the moment can now anticipate which way it will go but chances are that it will breakout to the downside.

Attached Image (click to enlarge)
Click to Enlarge Name: vikinsa USDCAD 2019-12-25_11-15-45 Bollinger Band Squeeze Breakout Expected.png Size: 110 KB
Technical Analyst & Trader @ Vikinsa
  • #3
  • Edited 5:35am Dec 25, 2019 5:20am | Edited 5:35am
UADCAD This Bat Pattern Can Give Us 80 Pips Going Long

1. Caution: As I mentioned above. on weekly timeframe the bollinger bands are getting squeezed. So a breakout can be expected. We have to be careful of that.
2. There is a bat pattern completion in the blue zone which also confluences with 200SMA on weekly chart.
3. So if the price falls into the blue zone, we can have a long opportunity for short duration targeting only adjusted 38.2 fib level as profit level. That is close to 80 pips but can be more or less after adjustment.

https://www.tradingview.com/chart/US...ps-Going-Long/

Attached Image (click to enlarge)
Click to Enlarge Name: Vikinsa USDCAD 2019-12-25_11-20-39 Bat Pattern Long Opportunity 200SMA Confluence.png Size: 151 KB
Technical Analyst & Trader @ Vikinsa
  • #4
  • Dec 26, 2019 9:08am Dec 26, 2019 9:08am
Moving towards the entry zone. However as there was a rejection at 78.6 fib level, I am expecting it to go deeper possibly beyond 88.6 fib. Let's see when we can enter a long position.
Attached Image (click to enlarge)
Click to Enlarge Name: IMG_20191226_150700.jpg Size: 469 KB
Technical Analyst & Trader @ Vikinsa
  • #5
  • Dec 27, 2019 1:54am Dec 27, 2019 1:54am
Quoting vikinsa
UADCAD This Bat Pattern Can Give Us 80 Pips Going Long 1. Caution: As I mentioned above. on weekly timeframe the bollinger bands are getting squeezed. So a breakout can be expected. We have to be careful of that. 2. There is a bat pattern completion in the blue zone which also confluences with 200SMA on weekly chart. 3. So if the price falls into the blue zone, we can have a long opportunity for short duration targeting only adjusted 38.2 fib level as profit level. That is close to 80 pips but can be more or less after adjustment. https://www.tradingview.com/chart/US...ps-Going-Long/...

Zone Is Close For Long Position: (Watch AUDUSD closely for correlation)
Attached Image (click to enlarge)
Click to Enlarge Name: Vikinsa USDCAD Dec 27 2019 Status Zone Is Close For Long Position 2019-12-27_07-53-11.png Size: 156 KB
Technical Analyst & Trader @ Vikinsa
  • #6
  • Dec 27, 2019 9:49am Dec 27, 2019 9:49am
The level is approaching however we need to be careful taking a position late in the week. We rather wait for a confirmation next week and then take a position
Attached Image (click to enlarge)
Click to Enlarge Name: IMG_20191227_154804.jpg Size: 452 KB
Technical Analyst & Trader @ Vikinsa
  • #7
  • Dec 27, 2019 1:32pm Dec 27, 2019 1:32pm
Reacting to exact that level. That's accuracy.
Attached Image (click to enlarge)
Click to Enlarge Name: Screenshot_2019-12-27-19-31-44-03.png Size: 95 KB
Technical Analyst & Trader @ Vikinsa
  • #8
  • Dec 29, 2019 10:57am Dec 29, 2019 10:57am
USDCAD Weekly Analysis:

Inserted Video
Technical Analyst & Trader @ Vikinsa
  • #9
  • Edited 5:37am Jan 3, 2020 5:26am | Edited 5:37am
I made a mistake on this. I overlooked previous 78.6 retracement which pushed this pattern into 1.13/1.27 Fib extension.
Anyway, I am still recovering from that and took another position at 1.272 zone. I am expecting it to finish a bullish week today because of candle stick patterns as explained here: https://www.forexfactory.com/showthr...2#post12678892

Lets see how it goes.

https://www.tradingview.com/x/YxFIYrLK/

Attached Image (click to enlarge)
Click to Enlarge Name: Vikinsa USDCAD Bullish Move Expected 2020-01-03_11-23-32.png Size: 28 KB
Technical Analyst & Trader @ Vikinsa
  • #10
  • Jan 9, 2020 3:52am Jan 9, 2020 3:52am
Looking good, going towards 38.2 target

https://www.tradingview.com/x/MFAnD7ka/

Attached Image (click to enlarge)
Click to Enlarge Name: USDCAD Long Position Moving Jan 09 2020.png Size: 101 KB
Technical Analyst & Trader @ Vikinsa
  • #11
  • Jan 9, 2020 9:37am Jan 9, 2020 9:37am
Target reached: total 90 Pips across trades
Attached Image (click to enlarge)
Click to Enlarge Name: USDCAD 38.2 Target Reached 2020-01-09_15-35-51.png Size: 89 KB
Technical Analyst & Trader @ Vikinsa
  • #12
  • Jan 26, 2020 5:46am Jan 26, 2020 5:46am
Inserted Video
Technical Analyst & Trader @ Vikinsa
  • #13
  • Jan 28, 2020 3:26pm Jan 28, 2020 3:26pm
USDCAD short going good from the zone:

https://www.tradingview.com/x/KqaENQ5K/

Attached Image (click to enlarge)
Click to Enlarge Name: USDCAD Jan 28 2020 Forex Short Position Update-2 Vikinsa.png Size: 242 KB
Technical Analyst & Trader @ Vikinsa
  • #14
  • Jan 30, 2020 2:46pm Jan 30, 2020 2:46pm
stop hit but entered again as the idea is still valid. Stop above 200 sma

Audusd should go up now which inversely correlated
Attached Image (click to enlarge)
Click to Enlarge Name: USDCAD Jan 30 2020 Forex Short Position Update-3 Vikinsa.png Size: 87 KB
Technical Analyst & Trader @ Vikinsa
  • #15
  • Feb 3, 2020 11:36am Feb 3, 2020 11:36am
got stopped out again. But now I have CADJPY trade running: https://www.forexfactory.com/showthr...0#post12735230
Technical Analyst & Trader @ Vikinsa
  • #16
  • Feb 9, 2020 8:39am Feb 9, 2020 8:39am
Inserted Video
Technical Analyst & Trader @ Vikinsa
  • #17
  • Feb 10, 2020 10:33am Feb 10, 2020 10:33am
USDCAD still climbing as expected.

https://www.tradingview.com/x/N16pqVwn/

DXY has completed the pattern as expected but still climbing. 127.2 Fib

https://www.tradingview.com/x/tdf9nbA9/

Attached Image (click to enlarge)
Click to Enlarge Name: DXY Feb 09 2020 Weekly Forex Trading Forecast Analysis Pattern Complete Still Climbing- Vikinsa.png Size: 136 KB
Attached Image (click to enlarge)
Click to Enlarge Name: USDCAD Feb 09 2020 Weekly Forex Trading Forecast Analysis Still Climbing - Vikinsa.png Size: 126 KB
Technical Analyst & Trader @ Vikinsa
  • #18
  • Feb 16, 2020 10:19am Feb 16, 2020 10:19am
Inserted Video
Technical Analyst & Trader @ Vikinsa
  • #19
  • Feb 27, 2020 12:40am Feb 27, 2020 12:40am
Inserted Video
Technical Analyst & Trader @ Vikinsa
  • #20
  • Feb 27, 2020 12:41am Feb 27, 2020 12:41am
USDCAD Going Towards The Higher Supply Zone As Expected

Attached Image (click to enlarge)
Click to Enlarge Name: USDCAD Going Towards The Higher Supply Zone As Expected Feb 27, 20202 - Vikinsa Forex Trading.png Size: 160 KB
Technical Analyst & Trader @ Vikinsa
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