anilmangal
Short

USDCAD waiting for breakout confirmation .

FX:USDCAD   U.S. Dollar/Canadian Dollar
2066 44 122
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
This is the money trade we all wait for!
+1 Reply
thanks Anil, a patient dog eat the fattest bone..i will wait too for the break.
+1 Reply
Great job! Always wait for confirmation!
+1 Reply
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
we are rules on how to trade breakout ,just a candle out is not a break out .
+2 Reply
anilmangal TOP anilmangal
i don't make any trading decision based on a candle ,it's all about structure .
+2 Reply
gbfx9 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....
+2 Reply
you could join us
+2 Reply
DamodarD anilmangal
where do I join to the training group?
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Skype me : mangal457
+2 Reply
gbfx9 anilmangal
i will join you too Anil
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USDCAD must be our 'epic trade', my Boss, IvanLabrie will say ;)
USOIL: FOR SO LONG AS SHE KEEPS SCREAMING UP "HARDER"!
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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
I think it's done.
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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
Thanks for sharing
+2 Reply
thanks anil,nice job
+1 Reply
thank u anil...great analysis as always...its almost there to break it...watching closely on the trendline
+1 Reply
Upon second re-look, I'll wait for something before going in this one
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moorekapital moorekapital
USDCAD: PATIENCE AND DISCIPLINE
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Why do you draw the line on the candlestick wick but not on the bodies?
+1 Reply
moorekapital RSFX-Inc.
B'cos it works for me ;)
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moorekapital 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
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RSFX-Inc. moorekapital
I see. it seems to work very well with your set up..
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moorekapital 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.
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moorekapital moorekapital
Overbought Condition says, Trendline must be tested.
EURCAD: MY OBJECTIVE TRENDLINE & CHANNEL LINE
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moorekapital moorekapital
snapshot
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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
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
"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
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
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moorekapital NidalDarawsheh
Loooool, did you think Anil runs a Hedge Fund.....???? How much weight does his trades carry???
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NidalDarawsheh 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
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Adriese PRO NidalDarawsheh
What is the Stop lose on this trade? thank u:)
+1 Reply
""I have learnt to wait for the market to give me confirmation before I take a trade.""""
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gbfx9 moorekapital
Somebody tell me, is it good now to enter this big money usd/cad for short?
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Anil, i believe this a BIG break out, what do you guys see??
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Beginning to look more like a trade now. If you're patient, You'll benefit a lot!
snapshot
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Spot on!
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Adriese PRO Laliberte
Is it too late to get in on this trade?
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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
I still believe CAD will Fly verses USD
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IS VERY GOOD ANALYSIS
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MILAD-FX-26 MILAD-FX-26
USD CAD SELL
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