KeeneOnMarket
Short

AUD/CAD looks like a Great Set-up to the Short Side

FX:AUDCAD   Australian Dollar/Canadian Dollar
126 3 4
All I know about trading forex is that that the Ichimoku Cloud works very well. I am a trader, not an economist so I do not care about policies, global issues, all I care about is a supply vs demand curve. With that being said, the AUD/CAD             looks like a Short Set-up using the 4 Hour Bar.

The Trade: Short the AUD/CAD             at .995
STOP: .999
Target #1: .993
Target #2: .991
Target #3: .989
Target #4: .987
Yes, it looks bearish to me to. I find it quite likely that it will return to 0.983. If failed, however, the parity will welcome it once again. :-)
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This would have been a losing trade. Pending shorts at .995 was at the second candle and price just zoomed through.

Also, talking about clouds... Doesn't it show weak resistance when the clouds are flat (contracting)?
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As I said, in case of failure, the parity revisited. I agree about the vertical size of a cloud, the thinner it is, the weaker it acts as S/R. This one's been particularly enervated at the time of the breakthrough.
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