USDCAD waiting for breakout confirmation .

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U.S. Dollar/Canadian Dollar (FX:USDCAD)

FX:USDCAD U.S. Dollar/Canadian Dollar

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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This is the money trade we all wait for!

thanks Anil, a patient dog eat the fattest bone..i will wait too for the break.

Great job! Always wait for confirmation!

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.

DamodarD

we are rules on how to trade breakout ,just a candle out is not a break out .

anilmangal

i don't make any trading decision based on a candle ,it's all about structure .

anilmangal

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....

gbfx9

you could join us

anilmangal

where do I join to the training group?

DamodarD

Skype me : mangal457

anilmangal

i will join you too Anil

USDCAD must be our 'epic trade', my Boss, IvanLabrie will say ;)

USOIL: FOR SO LONG AS SHE KEEPS SCREAMING UP "HARDER"!

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 :)

I think it's done.

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.

TRDVMA

Thanks for sharing

thanks anil,nice job

thank u anil...great analysis as always...its almost there to break it...watching closely on the trendline

Upon second re-look, I'll wait for something before going in this one

moorekapital

Why do you draw the line on the candlestick wick but not on the bodies?

RSFX-Inc.

B'cos it works for me ;)

RSFX-Inc.

@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

moorekapital

I see. it seems to work very well with your set up..

RSFX-Inc.

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.

moorekapital

Overbought Condition says, Trendline must be tested.

moorekapital

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 -

2 Hour chart -

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

NidalDarawsheh

"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. "

moorekapital

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

NidalDarawsheh

Loooool, did you think Anil runs a Hedge Fund.....???? How much weight does his trades carry???

moorekapital

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

NidalDarawsheh

What is the Stop lose on this trade? thank u:)

Adriese

""I have learnt to wait for the market to give me confirmation before I take a trade.""""

moorekapital

Somebody tell me, is it good now to enter this big money usd/cad for short?

Anil, i believe this a BIG break out, what do you guys see??

gbfx9

Beginning to look more like a trade now. If you're patient, You'll benefit a lot!

Spot on!

Laliberte

Is it too late to get in on this trade?

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.

I still believe CAD will Fly verses USD

IS VERY GOOD ANALYSIS

MILAD-FX-26

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