USDCAD Bear Flag

The USD/CAD was in a powerful uptrend for a significant period of time…



But recently, the USD/CAD has shown signs of possibly turning to the downside…



Because there is SO much room to the downside caused by the uptrend…



It makes sense to zoom in and look for Bearish Entries…



On the 1 Hour Chart, there is a nice looking bear flag that we could take advantage of…



An entry would make sense if it breaks below the recent low…


Once again, a large target can be used because of the space created by the Uptrend…



And that’s how I’d trade the USD/CAD Bear Flag ๐Ÿ™‚

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  • Wong Jun Jek

    Awesome Nathan, less words, clear and easy to understand!

  • aristides

    nice move, congratulations!

  • Andrew Barry

    Thank You for a great post. This looks to potentially be a great trade.

  • Doug

    I agree with the assessment that the pair is set to sell off but before it does that it looks like it will be heading to the upside a few hundred pips first before coming back down.

  • Chuks

    Great post. After breaking down the round figure 1.10000 last week with great momentum, it would appear this pair is indeed headed lower. I had bought off 1.0932 but price action has been lackluster since then. Not only have I liquidated my long position, I do think that indeed the bears are getting antsy and may be flooding the market soon enough. I have identified a good sell point at 1.0956 and am currently short with stop little above the round figure. I would be eyeing a break or failure to break 1.0857. For me, breaking down that support would be the last we hear of the bulls until further notice. Good luck if you eventually join!