AbhishekHSinghCMT
Long

USDCAD- (Alternate Count) -Close All Shorts-Possible U-turn

FX:USDCAD   U.S. Dollar / Canadian Dollar
203 3 10


As per previous post I had an opinion that it could be serious trouble below 1.2965- well UCAD started falling below that level & even made recent low@1.2906..

At present trading At 1.2936

There is a triangle forming in B-(Blue Wave) - Result- We shall expect a thrust in the form of C-Wave            

Trading Strategy- Entry Long At current levels, but with strict stop loss below 1.2900

Trade active: 19:15 Hrs-IST-5th Sep2016- Guys be careful likely there is a rising trendline within the triangle shown which is connecting c-e wave of triangle- It will be safe only to take shorts if you get hourly close else just do check at your end.
Trade active: 19:30 Hrs- IST-5th Sep2016- Hourly close below rising trendline within the triangle which is connecting "c-e"proposed wave as shown above in the update.
Best Regards,
Abhishek H. Singh, CMT
India Regional Manager
http://in.tradingview.com
| LinkedIn
India Markets-BSE, NSE chat room- https://in.tradingview.com/chat/#b4sFOMIVqPkq8gfQ
23:10 Hrs-IST-5th Sep2016- Taken this trade because I have to lose only 15 -20 pips at 1.2920 with a stop below 1.2900 (1-2 pips)- if hits -I shall throw my position else open for 1.3355. It sounds funny at the moment, but this is a risk worth taking. Once it crosses 1.3000- I shall trail my stop to cost price@1. 2920 for zero risk & no gain.
Reply
Metastock79 AbhishekHSinghCMT
Hi,
please let me know your entry.
Best regards abnd thanks
Reply
Hi, I have mentioned above that I have to lose 15-20 pips going below 1.2900 & taken trade at 1.2920
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