USD/CAD Short Position
Disclaimer:
Any of the content presented on my page showing my analysis of the market is just that, an analysis which means this is my personal opinion of where the price is going to go. Do not by any means take this simple analysis for a reason to enter a trade, I am not presenting these analyses as a form of signals, simply a way to get feedback and opinions from others on how my trades look. Take this trade at your own risk, but know forex is a risky market that you can make a lot of money but can lose that money or even more just as fast, enter these markets with your own risk and good luck with your trading :).
Daily Analysis:
On the daily time frame you are able to see in the past price has tried to break out of this zone around 1.28500, after a huge push to the downside in the previous few weeks price has made a push for this area once again. It had showed weakness to the upside and made a pretty big wick towards this zone again. I think this could be a big payout with a small risk amount if played right, if anything we will make a little bit of money and the worse scenario is losing half a percent. We still need confirmation on lower time frames for this to be a confirmed trade, we can wait for this on the one hour time frame or for a strong close you can even wait for a four hour candle close below the lows or well below the low for a good trade.
Price
Hourly Analysis:
Price was in somewhat of a up trend during the prior few weeks but went sideways for a while and broke out of the Resistance zone as seen above. Price was moving sideways for a while but as seen, the price had tried to make a move to the upside but had a hard time. Price had gotten a good push back and it had started to fall, there was even a few candles that have big wicks to the upside and it continued to push further down. I waited for price to break the other zone the bottom most black line and also a close below the recent low, as seen to the left of price.
Thanks again,
KeySlot
Any of the content presented on my page showing my analysis of the market is just that, an analysis which means this is my personal opinion of where the price is going to go. Do not by any means take this simple analysis for a reason to enter a trade, I am not presenting these analyses as a form of signals, simply a way to get feedback and opinions from others on how my trades look. Take this trade at your own risk, but know forex is a risky market that you can make a lot of money but can lose that money or even more just as fast, enter these markets with your own risk and good luck with your trading :).
Daily Analysis:
On the daily time frame you are able to see in the past price has tried to break out of this zone around 1.28500, after a huge push to the downside in the previous few weeks price has made a push for this area once again. It had showed weakness to the upside and made a pretty big wick towards this zone again. I think this could be a big payout with a small risk amount if played right, if anything we will make a little bit of money and the worse scenario is losing half a percent. We still need confirmation on lower time frames for this to be a confirmed trade, we can wait for this on the one hour time frame or for a strong close you can even wait for a four hour candle close below the lows or well below the low for a good trade.
Price
Hourly Analysis:
Price was in somewhat of a up trend during the prior few weeks but went sideways for a while and broke out of the Resistance zone as seen above. Price was moving sideways for a while but as seen, the price had tried to make a move to the upside but had a hard time. Price had gotten a good push back and it had started to fall, there was even a few candles that have big wicks to the upside and it continued to push further down. I waited for price to break the other zone the bottom most black line and also a close below the recent low, as seen to the left of price.
Thanks again,
KeySlot
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