anilmangal
Short

USDCAD waiting for breakout confirmation .

FX:USDCAD   U.S. Dollar/Canadian Dollar
2065 44 120
I have learnt to wait for the market to give me confirmation before I take a trade.
Even when i have a high probability trade that I have great confidence in I WAIT FOR CONFIRMATION.
Selling the break out is a great idea, we have been watching this pair for the down move for a while now and it keeps making new highs ,so waiting is a smart thing to do .

Like and comment if you agree.
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Training : add to skype mangal457
Yahia.Awes
a year ago
This is the money trade we all wait for!
+1 Reply
gbfx9
a year ago
thanks Anil, a patient dog eat the fattest bone..i will wait too for the break.
+1 Reply
YoungMula
a year ago
Great job! Always wait for confirmation!
+1 Reply
DamodarD
a year ago
Nice insight, how much pips do you consider as breakout in this 4H chart? I've entered in other trades and what seemed to be a breakout, reversed and became a candlestick shadow.
+1 Reply
anilmangal TOP DamodarD
a year ago
we are rules on how to trade breakout ,just a candle out is not a break out .
+2 Reply
anilmangal TOP anilmangal
a year ago
i don't make any trading decision based on a candle ,it's all about structure .
+2 Reply
gbfx9 anilmangal
a year ago
wow, i think i need to learn this rules because, i always loose with fake break out, how i wish you could fairly guide me Anil :D
Thanks in advance....
+2 Reply
anilmangal TOP gbfx9
a year ago
you could join us
+2 Reply
DamodarD anilmangal
a year ago
where do I join to the training group?
Reply
anilmangal TOP DamodarD
a year ago
Skype me : mangal457
+2 Reply
gbfx9 anilmangal
a year ago
i will join you too Anil
Reply
moorekapital
a year ago
USDCAD must be our 'epic trade', my Boss, IvanLabrie will say ;)
USOIL: FOR SO LONG AS SHE KEEPS SCREAMING UP "HARDER"!
Reply
Hoag PRO
a year ago
On Hourly Chart, we received a breakout on hourly bullish trendline, and same time on Elliottwave, we are targeting wave C or Wave 3 on hourly chart, bullish count is not looking good in shape in any degree. Will agree on bearish count, but target might not be same as you'r one :)
+1 Reply
IvanLabrie PRO
a year ago
I think it's done.
+1 Reply
TRDVMA
a year ago
Most depends on Oil prices. Today the surge of oil (4th wave IMHO) caused sharp drop in USD/CAD. If Oil start going down back to 40$ levels, I wouldn't expect such a huge drop in USD/CAD (at least right away). I would expect a much prolonged and choppy move to the levels you indicate. USD/CAD reacts always in tandem with Oil and USD Index and this shall always be taken into consideration. Check out my Brent Oil and USD/CAD charts. Regards.
+1 Reply
anilmangal TOP TRDVMA
a year ago
Thanks for sharing
+2 Reply
MM247
a year ago
thanks anil,nice job
+1 Reply
Shukz
a year ago
thank u anil...great analysis as always...its almost there to break it...watching closely on the trendline
+1 Reply
moorekapital
a year ago
Upon second re-look, I'll wait for something before going in this one
Reply
moorekapital moorekapital
a year ago
USDCAD: PATIENCE AND DISCIPLINE
Reply
RSFX-Inc.
a year ago
Why do you draw the line on the candlestick wick but not on the bodies?
+1 Reply
moorekapital RSFX-Inc.
a year ago
B'cos it works for me ;)
Reply
moorekapital RSFX-Inc.
a year ago
@vertrobwn , this is how i do it. It may not work for you = discard it.
But it works for me ;)
EURCAD: MY OBJECTIVE TRENDLINE & CHANNEL LINE
Reply
RSFX-Inc. moorekapital
a year ago
I see. it seems to work very well with your set up..
Reply
moorekapital RSFX-Inc.
a year ago
I'm always looking for something i can repeat , over and over again, so i can claim some statistical edge. I could make money at random, but if doing a particular thing severally and obtaining same results, then I think i found something I can trust.
Reply
moorekapital moorekapital
a year ago
Overbought Condition says, Trendline must be tested.
EURCAD: MY OBJECTIVE TRENDLINE & CHANNEL LINE
Reply
moorekapital moorekapital
a year ago
snapshot
Reply
donaldsaw
a year ago
Just food for thought but I have my EW count with an incomplete wave 5 of C in a zigzag correction and I anticipate 1 more high.
Weekly Chart -
snapshot

2 Hour chart -
snapshot
+1 Reply
NidalDarawsheh
a year ago
I am still long for one more spike up, but I agree with the idea, because your entry is my stop, which confirms that I am bailing out on the right spot, if it breaks I will switch sides
USDCAD 1-9-2015
+2 Reply
moorekapital NidalDarawsheh
a year ago
"I have learnt to wait for the market to give me confirmation before I take a trade.
Even when i have a high probability trade that I have great confidence in I WAIT FOR CONFIRMATION. "
Reply
NidalDarawsheh moorekapital
a year ago
True, but Anil is smarter in terms of positioning him self in the market, take it this way; if his trade gets executed we lose, if our trade works out to be valid he does not loose any thing :), that is something maybe we should look at
Reply
moorekapital NidalDarawsheh
a year ago
Loooool, did you think Anil runs a Hedge Fund.....???? How much weight does his trades carry???
Reply
NidalDarawsheh moorekapital
a year ago
I did not mean that he will move the market with his trade, I meant he waits for confirmation (break out,) if does not break out and heads north on our favour, his trade will not be executed in the first place
Reply
Adriese PRO NidalDarawsheh
a year ago
What is the Stop lose on this trade? thank u:)
+1 Reply
moorekapital Adriese
a year ago
""I have learnt to wait for the market to give me confirmation before I take a trade.""""
Reply
gbfx9 moorekapital
a year ago
Somebody tell me, is it good now to enter this big money usd/cad for short?
Reply
gbfx9
a year ago
Anil, i believe this a BIG break out, what do you guys see??
Reply
moorekapital gbfx9
a year ago
Beginning to look more like a trade now. If you're patient, You'll benefit a lot!
snapshot
Reply
Laliberte PRO
a year ago
Spot on!
Reply
Adriese PRO Laliberte
a year ago
Is it too late to get in on this trade?
Reply
I would still wait for sell set up.

There could be one final push for Wave 5 with a divergence.

I believe., Selling would be safe only if the price breaks below invalidation.

snapshot
+1 Reply
gbfx9
a year ago
I still believe CAD will Fly verses USD
Reply
MILAD-FX-26
a year ago
IS VERY GOOD ANALYSIS
Reply
MILAD-FX-26 MILAD-FX-26
a year ago
USD CAD SELL
Reply
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