USD/CAD, good buy today?

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As seen from chart H4, the pair is traded at 1.27082. ADX is 28.51 along with the green SAR arrow, showing a relatively strong uptrend. The stock is expected to go down slightly then go up again. I'm going long with SL at 1.26505 and TP at 1.27806

 
sassybob:
As seen from chart H4, the pair is traded at 1.27082. ADX is 28.51 along with the green SAR arrow, showing a relatively strong uptrend. The stock is expected to go down slightly then go up again. I'm going long with SL at 1.26505 and TP at 1.27806

Hi I'm also trading usd/cad and I have some questions. What indicator are you using? Is this a trend following system? Can I use this for other currency pairs? The another question is that is it a non repaint indicator or painted indicator. I have seen this kind of indicator but they don't work in sideways market.
 

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allyhart:
Hi I'm also trading usd/cad and I have some questions. What indicator are you using? Is this a trend following system? Can I use this for other currency pairs? The another question is that is it a non repaint indicator or painted indicator. I have seen this kind of indicator but they don't work in sideways market.

I am using an indicator called PFM Signal Trend. Yes it is a trend following system. It's quite easy, you just need to observe the arrow: when the green arrow appears, there is an uptrend; when the red arrow appears, there is a downtrend. You can use it for different currencies and on multiple time frames. 

The indicator is a non repaint one. With the sideways market, you can choose another timeframe with a clearer trend.

Here I will give you the tool so you can experience it yourself and see if this indicator suit your trading style

http://pfmfund.com/signal-trend-free-en.html

 
300 pips in two day : it was a good buy
 
USD/CAD reached the resistance at 1.2950, and I think it will possibly break above that level. If that happens, next target will be at 1.3140, which is EMA89 on the daily time frame.
 
The move to the upside continued today and the pair broke above 1.2950. If the breakout is confirmed, I think the first target will be 1.3050, and the longer term target is, as I mentioned, around 1.3140.
 

Yes, the pair is still on the rise despite recent dip. Let's enter a long position now 

 

 

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The pair reached the resistance at 1.3015 and formed a doji candlestick and a shooting star candlestick below the resistance at that level on the daily time frame, which were good signals that it would start falling again. Currently it's testing the support at 1.2870 and I think if it breaks below that level it will continue falling towards 1.2800.
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