Technician
Long

USDCAD: Short-term Trend Resumption Trade

FX:USDCAD   U.S. Dollar/Canadian Dollar
2890 30 20
*Update: Stopped out
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I just initiated a long position on the USDCAD             at 1.1330, following the double bottom neckline breakout, supported by the bullish divergence on RSI . Also the dominant trend is bullish .

Best of luck. Join me at https://twitter.com/thefxchannel
Also at my Facebook             page www.thefxchannel.com
My best regards,
Technician

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Trading Criteria:
1. Trades are taken in two units
2. First unit would be closed at first target
3. Stop loss is then moved to break-even
4. Second unit would be closed at second target
Notes:
5) If 90 percent of first target is reached I move stop loss to breakeven.
6) If 90 percent of first target is reached without triggering entry I cancel the trade.
7) Remember: Losing is a main part of the game
If you dont want to miss any trade and see all the trades live, fully transparent. No bullshit like some others. Join my FREE channel here https://telegram.me/technician_forex_trades

Related Ideas

HumbleTraders
2 years ago
Bit tight on stop?
Reply
Technician TOP HumbleTraders
2 years ago
had to abide to my risk-reward. I prefer a stop below the recent swing low though at 1.1250
Reply
PIPFOLLOWER
2 years ago
I think it will be like this :) dont lough i dont know technic analise :)
short + long

Reply
Technician TOP PIPFOLLOWER
2 years ago
:) good luck
Reply
PIPFOLLOWER Technician
2 years ago
thank you technician i did not listen myself :)
Reply
thanks for this post
Reply
mustard
2 years ago
Long from the break above 1.1275, nice cup and handle formation on the daily, target 1.1675.
Reply
OOSilgjerd
2 years ago
Haha, beat you to the entry. Good job keep it up! ;)

16.11.2014 Trade 4: USDCAD H4
Reply
Comment removed
OOSilgjerd HexVex
2 years ago
Jeez, nice manners dude. Sorry if I came across as a bit rude, it was well and friendly intended. :)
Reply
HexVex OOSilgjerd
2 years ago
Zippydy-do-da man :)... Apologies for being blunt. I call it like it smells. Maybe I should have said juvenile instead of.... Or ignored you but... It so happens I'm one of your 3 followers and your trade ideas ain't bad when they're not sloppy. So expectations and all that... I thought you were from Norway though... Not West Virginia ;)

I'm one of your 3 followers!
Reply
Barabaszek
2 years ago
I'm jump in to this train. Good luck.
Reply
Technician TOP Barabaszek
2 years ago
welcome buddy
Reply
Barabaszek Technician
2 years ago
Nice ....like always :-)
Reply
Technician TOP Barabaszek
2 years ago
Thanks, nice only if Target reached
Reply
Barabaszek Technician
2 years ago
Fair enough, but I'm hopeful.
Reply
Dimitris
2 years ago
Pair is breaking out from the triangle, but price is very choppy and is beggining to show divergencies on the H1 ( on RSI & stoch 14,3,3). Lets see what happens @1,1390-1,14 level
Reply
LauKang
2 years ago
Is this still available ?
Reply
Technician TOP LauKang
2 years ago
I am still long
+1 Reply
LauKang Technician
2 years ago
I might join to the same train, thx technician
Reply
Technician TOP LauKang
2 years ago
mmm good luck then
+1 Reply
ForexDreams
2 years ago
Good trade, but my analysis suggests you're early. Price should pull back to touch the 50% line of the channel before breaking out north. I suspect this will be done under the cover of tomorrow's Canadian news releases at 13:30 UTC. Good find though. Your stop should be enough. Good luck everyone. :)
Reply
ForexDreams ForexDreams
2 years ago
USDCAD SHORT THAN LONG


Reply
PIPFOLLOWER ForexDreams
2 years ago
like my analise :)
short + long
Reply
alex.a
2 years ago
Oil goes up
Crude Oil -WTI - CLF2015 - Turning up from deeply oversold
Reply
Update: Stopped out.
Reply
LastBattle
2 years ago
snapshot


Looks like a good short target now.
Reply
PIPFOLLOWER
2 years ago
long +short
long +short
Reply
I know you are a heavy contributor, which I love. But, what was you idea here? Going by your chart, that looks rather bearish, and anything bullish wouldn't have been started until a close above the descending resistance IMHO.
Reply
HumbleTraders
2 years ago
Cant be long USDCAD and long Oil I would say?
Reply
HumbleTraders
2 years ago
Pity to be stopped. Long bias prevails from now on
Reply
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