Kumowizard
Short

EURCAD - Bearish continuation is confirmed

FX:EURCAD   Euro Fx/Canadian Dollar
89 4 2
Not much to add to the original idea (see link below), except the confirmations, which are clear now.

- Weekly Heikin Ashi candle reversed to bearish again
- Daily bear flag is broken, Heikin Ashi signal is clear bearish . Tenkan Sen points down again (so does Kijun and Senkou A). More acceleration expected below 1,34.

Hold shorts, add more on any pull backs.
Today I would prefer to buy.
Target 1 - 1.36400
Target 2 - 1.37500
Reasons:
Day pin bar
Resistance level and level 1.35000

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The trend is down, and I do not even see a chance for a counter trend on the 4H time frame. Until 4H price is below the Kumo and 100 WMA I look for sell signals only.
Day pin bars and regular japanese patterns are not for me. I find them often confusing. That's why I use Heikin Ashi instead, to filter as much noise as possible.
But if you daytraded, then obviously your idea worked upto your first tgt 1,3640.
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tcas Kumowizard
You are right. Trend is too strong. It was my mistake.
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Always try to follow the main trend, which is stronger on the higher time frame. Sometimes I do counter trend swing trades myself too (always tempting to feel like beating the market at least short term :-) ), but trying to trade more with the trend. Even if you try somthing against the trend, make sure three things:
- your trade size is not bigger than 0,5 Unit of your regular size
- prefer those counter trades only which at least show some counter trend on the lower time frame (4H in my case)
- use a tighter stop loss
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