Kumowizard
Short

EURCAD - what's cooking here? A correction?

FX:EURCAD   Euro / Canadian Dollar
135 views
3
135 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
EN English
EN English (UK)
EN English (IN)
DE Deutsch
FR Français
ES Español
IT Italiano
PL Polski
SV Svenska
TR Türkçe
RU Русский
PT Português
ID Bahasa Indonesia
MS Bahasa Melayu
TH ภาษาไทย
VI Tiếng Việt
JA 日本語
KO 한국어
ZH 简体中文
ZH 繁體中文
AR العربية
HE עברית
Home Stock Screener Forex Screener Crypto Screener 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 Send feedback Ideas Published Followers Following Private Messages Chat Sign Out