USDCAD: Short in preparation for today's news

FX_IDC:USDCAD   U.S. Dollar / Canadian Dollar
Analysis is simple, we have a bearish trend continuation trade, or at the very least a pullback in an uptrend.
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.


Ivan Labrie
Time at Mode FX
Analyst at Concord Bay dot com
Trade active: Added to position and trailed SL.

We broke and closed below support.
Trade closed manually: I'm out. Reshorting if need be.
Adding to winners is key.
Comment: Target hit in time, we can look to add soon but not yet.
Comment: I will be hosting a webinar before the US Jobs data comes out: https://www.youtube.com/watch?v=830QXuSWSck
Feel free to stop by.
Trade active:
Comment: En route.
Trade closed manually: Pips are pips.
Managed to make 1% on it. Let's wait.
Trade active: We shorted, booked profits and shorted again...again booked profits. So far 4% has been squeezed out of this pair. Currently in a long we took with the trading room group, captured in today's private webinar:

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.
Trade closed: stop reached: Stopped, looking for next week's daily developments. We might get a clear breakout up or down. We're right at a massive volume node
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.
how to put a horizontal volume?
IvanLabrie Boyd_Bowen
Hi, you need the pro plus account Tradingview offers. Then enabling the volume profile indicators.
Im still short on my trade. How will the AUD interest rate affect the CAD and the unemployment figures in US affect? Fundamentals still suggest USDCAD short right?
IvanLabrie teddyrucks
I'd be careful with the short side here.
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.
+2 Reply
Ivan, it was PERFECT! Please, keep it update1
+1 Reply
IvanLabrie eb0b1852b8a04587a2caaf3b2b02a1
Right now we have to wait.
I'm looking at USDJPY.
I'll update my thread.
Nice one! im already in. Regards.
+1 Reply
IvanLabrie FullTimeTrader
Let's roll!
Nice one, keep it updated.
p.s. Already in. The pair may go down dramatically.
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