Kumowizard
Short

EURCAD - what's cooking here? A correction?

FX:EURCAD   Euro / Canadian Dollar
135 3 3
This has been one of the most beautyful Bull I have ever seen in my life... and which I haven't played since I very rarely follow CAD. But it is very overstretched now, with MACD negative divergence and Slow Stoch bearish cross on the Daily chart , and with extremely low ADX on the 4 Hrs             time frame. The minimum what we can expect here is a correction down to 1,5200 - 1,5250, and even though I hate to give such early prognosis, but looking at last week's cpi             numbers, and this MACD divergence I would not be surprised if we see the end of this bull at this spike. However only time can justify this feeling (1-3 Months maybe). Since the underlying trend is extremely bullish , I would rather play it through Put options.
1,5150 tgt met. Take profit.
Reply
Close half of short position here, as first tgt is almost met. Slow Stoch is oversold, expecting a bounce up. Resell around 1,5350-1,5400 if setup confirms then. (I also closed my 1M Long Put 1,5100 strike.)
Reply
I sold 0,5 unit outright at 1,5480. Size up below 1,5400. Initial stop 1,5550, tgt 1,5150-1,5200.
Reply
English
English (UK)
English (IN)
Deutsch
Français
Español
Italiano
Polski
Türkçe
Русский
Português
Bahasa Indonesia
Bahasa Melayu
ภาษาไทย
Tiếng Việt
日本語
한국어
简体
台灣
Home Stock Screener Forex Signal Finder Cryptocurrency Signal Finder Economic Calendar How It Works Chart Features House Rules Moderators Website & Broker Solutions Widgets Stock Charting Library Feature Request Blog & News FAQ Help & Wiki Twitter
Profile Profile Settings Account and Billing My Support Tickets Contact Support Ideas Published Followers Following Private Messages Chat Sign Out