USDCAD has encountered massive overhead resistance and might give a great short here.
I'll be hosting a webinar today, explaining how to enter this trade, and how to manage the position once in.
The stop loss can be at a few different places, we can use the one on chart, or a wider one using ATR or the structure above.
If the short fails, we can reenter, as long as the main analysis is correct. It often happens and it makes us miss huge moves, being taken out by a spike. We have to not fear, and trust our analysis, and reshort when that's the case.
If you want live updates and more information, make sure to contact me via pm or skype. I provide signals for auto trading and via email. I'm also providing access to a live trading chatroom where we give education to traders, as well as discussing the positions we're in.
All of these are free of charge for concordbay.com customers.
Time at Mode FX
Analyst at Concord Bay dot com
We broke and closed below support.
Adding to winners is key.
Feel free to stop by.
Managed to make 1% on it. Let's wait.
The daily is sitting above the mode for this uptrend leg, if it starts working the daily will also confirm an uptrend, and it's a pretty good target once we're there.
To get these type of signals, make sure to contact me for more information. Trading is an involved and dynamic process, we'd like to collaborate to profit from the market together. Stay tuned for more, next week we'll host another free webinar.
Crude's at a decision point as well.
4h uptrend invalidated for now. Daily shows two possibilities, we need to take the breakout, no other way around it.
Try to trail the stop down or close 50/75% now and move stop to break even.
We have the end of the month, and many interesting levels and patterns in many charts, suggesting a potential big move. Equities, crude oil, metals, and naturally currencies...We will know more next week, for now, let's protect profits.