tntsunrise
Short

Short USDCAD FOR Buyer failure

FX:USDCAD   U.S. Dollar/Canadian Dollar
9661 61 144
Short USDCAD             FOR Buyer failure

2nd try didnt make a higher high.

RSI is heading down

We can enter a short trade
Trade closed: stop reached: Stopped out at 1.3136
Comment: DUN DO REVENGE TRADE. STOP LOSS OCCURED, JUST EXIT, BECAUSE YOU DONT KNOW HOW MUCH FUTHUR THE MARKET WILL GO.
I LOST ABOUT USD 1K IN THIS TRADE, COMPARING TO MY ACCOUTN SIZE,
ONLY 1%, BUT MY NZD SHORTING TRADE STILL HAVE 6K PLUS IN PROFIT.
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thanks mate
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I'm seeing the same sir
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Thanks for this
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trade active now
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jack, what SL for this?
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Better RR to wait for break of support or try higher up;
snapshot
+2 Reply
waterman BTCMarket
Very good anticipation.
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BTCMarket BTCMarket
Now it's possible to consider short, need to wait at least 2 or 3 bars for confirmation. Hour close above box is bullish for this pair so need to be careful at these levels and wait for short confirmation.
snapshot
+2 Reply
KenWei PRO BTCMarket
you are good
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BTCMarket BTCMarket
This setup is dead we have hourly close above the box. Pair is bullish and is why we wait for confirmation first.
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VirtualFax BTCMarket
Good call!
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Following, thanks Jack.....
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agree sir
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It is a good idea ! Thanks
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what SL for this?
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If you enter now you'd be probably stopped out.
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tanner5 tanner5
I'm going to long this
+1 Reply
forexramen tanner5
yeah lets do it 5 lot size 200 pips long lets go!!!!!
+1 Reply
Ok thats enough going long time to short now this time 10 lots lets go!!!!!
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theforexscrub theforexscrub
Ok done for tonight
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KenWei PRO tanner5
yup
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I sold at the first top and last night I was about to take profit but then I thought I would regret it if it continued to fall.. damn market..
+1 Reply
If the canadian $ go up it mean that oil go up to ? So unless you can have an other explanation I doubt we will go down
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Mostly agree with your ideas. But not here. If we look alone at USDCAN chart your idea make sense. But as you mentioned at the most recent "weekly thoughts" CAD is hardly correlated with oil ( and currently you try to find a place to short OIL) and it is general adverse correlation CAD to DXY (you are more bullish than bearish on DXY). All together your ideas on OIL and DXY contradict USDCAD
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mlbo pler604
with every setup / try / idea he wants to make like twice or threetimes or bigger profits in ratio to the money he risks. that makes i possible to do these "contradictive" trades. what if he would not take this USDCAD idea because he is bullish on DXY and then it turns out that being bullish on dxy didnt work out? no wins at all then...

well, stopped put now. better "luck" next time
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Right. But does he try to be contrarian to himself? What drives USDCAD movements? DXY and OIL. It is great to set up such a trading when an environment is favourable ( in this case DXY downtrend, OIL up), because you will have potentially multiplied effect on USDCAD. It is reasonable to short USDCAN with a chart like this with a neutral sentiment on OIL and DXY. But if you try long DXY and short OIL this set up had small chances to success, because you see that primary instruments to USDCAD most likely will go in unfavourable direction.
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excuse me: its possiblle open this short now? we must wait other conditions? thanks very much
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hi, jack. why you not stick to your previous plan. you said us index going up and you short this pair. XD
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luthfi.zain Calamity
He sticked with his plan and got stopped out. What's wrong with that? His SL was hit and it was part of the plan. SL is a trading plan, don't you think?
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Calamity luthfi.zain
i didn't mean trading plan, i mean what he said dollar bullish stuff. rethink what you say before you post thanks.
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1.41 extension is near..

snapshot
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there was a bullish teacup with handle , it will retrace at least to 127%, in my point of view
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santoroma NotYetPro
target price? i dont understand.... thanks
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Thanks for your info.
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I am also looking for selling. Did you sell now?
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leave now
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and now what ?
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wangpa Julio
now go to sleep, u made nice loss today
+1 Reply
i will continue selling it, bcoz i want more profit and dont want loss.
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yes so you will loss double
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Divergence in MACD and RSI time frame 1H - Short
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Third time is the charm.... don't give up... It's not revenge if you are right, but at the wrong time.
it will go short... no doubt about it....
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I don't understand why you shorted it. I bought that mess:
snapshot
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good for u.
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Fibronacci Rocketman
Yap. It was an unbroken uptrend
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You got it wrong , it had upside momentum
Losses are part of trading , profits as well , , if you are making 6K on other trade good for you ! but.....those are private
I see some arrogance
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tntsunrise TOP FerminNunez
nothing wrong, just a stop loss hit. from 3092-3136 ,lost 44 pips.
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FerminNunez tntsunrise
Yeah yeah yeah
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Rocketman PRO FerminNunez
I lost trades because I was sleepy. lol!! It is ok to be wrong sometimes. That is why we are here to help each other.
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to me a stop loss is not a wrong. it is just one of the exiting strategy. there are five results in trading: big loss, small loss, break-even, small gain, big gain. and for this trade, i just have a small loss. that's part of my trading plan. and thanks for the stop loss, it prevent me for a big loss.
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santoroma FerminNunez
you are able to predicting the past....
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Looks like its back on its way to 1.28 . :)
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Excuse me,do you work in that bank in Malaysia?I think you a course of 12888yuan really worth it?
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i used to work in bank in singapore
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snapshot
short now tp 1.30300
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Hi there !
I said you got it wrong . Remember ? momentum still Up
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It seems that now it is a good time to Short this pair Sir.. take a look at 4h TF
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TF 4 hrs . this is the Dominant , still has Positive Momentum although decreasing , It is probable that will re-test the high again and perhaps make a new one
TF 1 Hr is the secondary Momentum is Positive , at present correcting ,
I will watch very closely next move up most likely when to short it
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In the next week we need update for this currency usd/CAD
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I think time is up.. can sell now.. also other lots of technical reasons besides time.
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