#USDCAD Double Top Short Idea Short

U.S. Dollar/Canadian DollarFXCM

Description

⋅ Mar 15, 2015 8:50 PM

@TradeYodha (TradeYodha.com)

#USDCAD Double Top Short Idea

1. Double Top On Weekly and 4H
2. Price has been overbought
3. 10SMA and 50SMA on Weekly and 4H are lagging.
That should attract the price downwards
4. DXY (Dollar Index) is also due a retracement.
See related idea. That should being USD to this
zone for a Long Entry

I would love to hear your opinion, feel free to agree or disagree in your comments.

USD (US Dollar)Double Bottom rsi_divergence

Comments

TradeYodha

⋅ Mar 18, 2015 10:45 PM

Update: Perfect entry and great profits

FullTimeTrader

⋅ Mar 15, 2015 11:27 PM

Hello, technically i agree, my bias was also short, but the Dollar Index broke the level 100 last friday with a decisive candle on W1 and D1. So better i will stay away.........

TradeYodha

⋅ Mar 16, 2015 8:02 AM

Thanks for your comments FullTimeProTrader. I think DXY is due a slight correction. This trade of mine is based on that. We can get short term gains based on that correction.