we could make a few pips today with USD/CAD in bullish mode. Now the market looks to change direction. Nice picture with both SHS.
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Comments
maharjaan1
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If it is your Headline "BEARISH short then your message body suggest "it is changing direction in bullish mode (is it means you are saying "LONG""....whether LONG or SHORT be precise plz....?
Phenlx
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Now its bearish, but today it was bullish please check my former post
maharjaan1
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ya It is// plz can you suggest me why market came back from 1.3165 region to 1.3035 zone???i can not understand the fury behind it...i was profitting in buy and i was looking for 1.3195 zone but all the sudden prices went down too fast and it hit my stoploss...and i lost heavy amount...>?? can you suggest what actually happened>>??
Phenlx
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I will try to explain. You have been long on a countertrend, means you entered long on a bearish down leg´s retracement. Have a look on the red lines these lines represent a bigger correction of the former up trend. The blue lines are just the correction of the down trend which look like a little uptrend. If you enter long in such situation you always need to have tight SL and you always need to count with the next sell off phase which actually has been initiated 1.3160 (blue resistant level which I coincidentally draw in upper analysis) This level was also almost 78.6 fib level of former down impuls. Learning: Never be too long in a countertrend.
maharjaan1
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thou its too late...bad for me....i have another position opened in eurusd long at 1.0962, targetting to 1.1090 region with stoploss at 1.0895...thou its also countertrend but i think with thorough analysis the prices will retrace by potential butterfly which is actually at partial uptrend to 1.1150 but im targetting just 1.1090. Hope im not wrong this time...
Phenlx
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I´m sorry for you bad trade. Good luck with your next one.
maharjaan1
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Thanx buddy
Phenlx
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By the way I did not say its changing in bullish mode, I said: [ ...we could make a few pips today with USD/CAD0.07% in bullish mode. Now the market looks to change direction. ]
Take your time reading the posts :-)
Phenlx
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sorry the quote was deleted, I post it again :
-Quote-: ... we could make a few pips today with USD/CAD0.07% in bullish mode. Now the market looks to change direction.- Unquote-
This meant I expect bearish market.
maharjaan1
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its alright dude never mind,,,you are good in your job...keep the good work and keep the us on track ...gl