Vladimir Ribakov analyzes USD/CAD on the 4-hour chart, spotting a hidden bullish divergence and a Harami candle at the 1.350 support level. MACD crossed bullish and RSI shows higher highs, signaling upside potential toward the 1.3850 resistance zone.
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Hey guys, how are you? Vladimir Bakov here from Traders Academy Club, and this video is the day trading idea and the market analysis. Today we are on 24 June 2020. If you are new to this channel, first of all, welcome to our community. I would like to invite you to subscribe to the channel. Just follow the subscribe button below this video and remember to enable the notification. And as well, I would like to invite you to join our trading club in Traders Academy Club and to join our free Telegram channel, where both links could be found below this video in the description or in the pinned comment. Today on the list, dollar CAD, a pair where I believe in the short term has all the reasons to go and to complete this ABCD correction of three well of the bearish trend it had to the downside. Even if we don't go with the whole deep view and only look on the shorter term, then still we have here all the reasons to go and to complete this ABCD. So why and what do I see on this pair? So when we go and we plot this ABCD correction, we got 2 very, very interesting levels. One of them is closer to the 137, also around this key supportive zone, and the next one around the key resistance— sorry, and the next one is around 138.50, a critical key resistance. I believe that these zones, well, at least this zone Uh, is going to be reached. When we are checking the higher time frame, the daily in that case, when have here a very interesting development. The first leg was here and then we got a correction, and then what I believe is developing is this. I might be wrong here, of course, but that's pretty much how I see these things develop. And once this becomes— that's, that's currently where I see the cycle completed, as I showed you on the 4-hour chart. Once this correction is over, I expect this to continue and push lower with the hidden divergence. So the hidden divergence is completing there. The 4-hour chart is developing the ABCD correction, and until this divergence to be completed, I expect expect the pair to push slightly higher. The other very interesting things we have here, that is each of the 4-hour chart legs— look at this— has the same format of ending. Very, very powerful sign. And right now on the wave up, look, look what happens on the first wave. We got 3 waves until it's done with the divergence. Currently, we don't. So I do think it has more to offer until it will block be blocked with this divergence. So my view here is to the on the short term to the bullish side. What is your view? Let me know how do you see the dollar CAD and what you would expect from this pair. And meanwhile, I would want to show also one. Very interesting technical sign here. One very powerful combination, and that's from the bouncing zone. Look where it bounced from. Okay, very strong key supportive area, right? Where from the MACD crosses to the positive to the positive histogram, where the blue line is above the red line. On a daily, uh, from the daily we switched the 4-hour. On the 4-hour chart, after the correction, we got a beautiful Harami here. And look where it all comes from. It comes from on the supportive area, psychological 135. Beautiful Harami with one more verification candle. Oh, afterwards, look what happens here. The MACD crosses to the direction we have from the daily. And on the one-hour chart, extend the waves and basically look at the MACD as well. After a bullish divergence, bullish cross which holds, and so does the RSI, which keeps creating the higher highs and the higher lows. So from my point of view, there is more to come to the upside. Yes, on the short term, and it's very important to remember that. So that's my point of view for. For today, let me know what how and what do you think about dollar CAD. And for more trading ideas, live trading analysis, and live market analysis on daily basis, followed with trading reports, I invite you to join to our club, the Traders Academy Club. Stay safe, be well, and thank you for your time watching this video. I'm Vladimir from Traders Academy Club, and I'll see you the next days. With other opportunities.
