USD/CAD

LoL

my targets are on the chart

daily close above 1.315 would be ideal i think, since that would establish a breakout on the weekly chart

One of the most heavily manipulated pairs.

It's the strongest pair in the universe today and the price action shows it's being kept down in a tight range in the five minute.

breakout or fake-out this week

any chance of going to 1.4 within next 3 months as global economy faces higher rates?

it looks like a fake-out since it didn't even close above 1.304

there is a risk of falling back to 1.282, i put a buy limit order there

1.28600 support resistance

waiting for the buy limit to be executed at 1.282

on 4h timeframe usdcad shows bearish movement. dollar (usd) is getting stronger against other currencies.

it came very close to 1.282 today

buy limit again at 1.282

the market appears to be pushing back to the 2850 level for a reversal, or continuation, depending how you look at it i guess...happy trading

buy limit at 1.282 triggered earlier, target are on the chart

ive found that at session changeovers there are some opportunities for some really solid entries, using triangles from the recent h/l at session close, stretched out about 2 hours into the next session. once the lows/highs are violated. they make really make it there business to get outta there

ny closes selling prev week low, 30 pip scalp im expecting, when price returns

same story again, but USD/CAD bears are pushing more

bad US GDP data, bad stock earnings forecast should keep this pair elevated, i think

I dont know if there is such a thing as a weak or strong S&D zone. what i do know is price cant move passed a zone without fist consuming those buyers and sellers. you'll get that move either as a retracement in the opposite direction of the trend or in the direction of the trend. your goal is to trade the bounces between supply and demand levels. sometimes you might get price that engulfs (literally) that demand level, which is because its hit a higher timeframe Supply level. so you do have to be careful still at each level that you pick. its better to trade with the trend, and if you are not trading with the trend, you are literally trying to pick tops and bottoms which is harder.

in the example below is USDCAD daily chart: We have hit a daily supply and now we are going down currently, correct? so what we want to do is go down into a lower timeframe to see where price is going.


this is the 4h chart: the highest and lowest point on this chart is the circles on the daily chart. i marked out the demands on the 4h chart where i think we can get a small ''correction'' in price. the theory goes, you cant head lower without first consuming what ever buyers there are left on this chart.


but dont forget we are coming from a higher time frame supply (daily supply) into a lower time frame demand (4h chart), and so if you are going to buy it at these levels on the 4h chart, you need to take into account that it might only be a corrective move, and we are infact going to break lower. if it is a buy as a corrective move you also need to take into account chart candles at demand level like a doji candle or hammer which will give you a signal to long at that particular time of the demand level. also we are creating supply levels that you can short too.

did i explain my self a little and whether it answered your question? i hope you all can understand what i am ''trying to explain''.

PS. just thought i would share my thoughts of USDCAD as another member asked a question and this was a good example to show him. you can join us if you are interested in supply and demand.

theres also this demand that i didnt mark out