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MEX_Exchange
Dec 15, 2017 2:26 AM

USDCAD profit target reached perfectly, prepare to sell Short

U.S. Dollar/Canadian DollarFXCM

Description

Sell below 1.2803. Stop loss at 1.2860. Take profit at 1.2639.
Reason for the trading strategy (technically):
Price has shot down perfectly and reached our profit target as expected before bouncing up. We prepare to sell below 1.2803 resistance (Fibonacci retracement, horizontal overlap resistance) for a push down to at least 1.2639 support (Fibonacci extension, horizontal swing low support).
Stochastic (34,3,1) sees a bit more downside potential to 2.3% where we expect price to drop to.
Comments
Soufkorean
on Instagram, i see someone name (@theforexarmy) with the same chart as you. Someone might be stealing your charts for their advantage.
VantageFX
@jiyongprk, thanks for the heads up! We do work with them closely so good observation there :)
NeverNO
@jiyongprk,
they are the same people
hiba
I am in no way connected to Max exchange but have benefited a great deal from their insight :) of course not expecting 100% but a close 80% is good enough for me!
Thanks Max!
BrichelleClerico
Why do you take down your old charts
zemnexx
@BrichelleClerico, Typically they only do this if they are losing trades to hide it. @MEX_Exchange, care to respond? Do you take down losing charts?
VantageFX
@zemnexx @BrichelleClerico guys, you can't take down losing charts lol. Tradingview prevents you from editing/deleting charts after the first 20 minutes.
zemnexx
@VantageFX, Good to hear. Just wanted to get some feedback from @MEX_Exchange on it or a response. I have seen more than one user claim as much so figured I would @ him directly
zemnexx
Stopped out.
lit-trading29
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