IvanLabrie
Long

USDCAD: Time at mode downtrend signal update

FX:USDCAD   U.S. Dollar/Canadian Dollar
366 32 17
We're close to the expiration date for the longer term signal but the last target hasn't been reached.
I expect to see a reversal from here, which judging by the crude oil             chart, will come in a day or two.
Looking to go long, watching for the perfect entry. We need patience, because RgMov is still pointing down, and we have new lows every 5 bars still, so trend is still down, technically.
The minimum target for a long position would be a retest of the previous mode from where the downtrend launched.

Good luck!

Ivan.
Trade closed: target reached: Time expired, price surged. Perfection.
Original publication:
USDCAD: Mapping targets and reversal levels
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Keep a close watch:

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There's a low in place. Might be wise to monitor the hourly for a long today.
If it keeps going down, we'll have to wait until time expires in the daily/weekly downtrend.
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IvanLabrie PRO IvanLabrie
Entered a long from the hourly, very tight stop, it's a long shot but risk/reward's ridiculously good if it works:

snapshot
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Looks like they are flushing stops...Still long, usdchf looks great, crude too, market's about to turn up.
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Important events:

14:30 16m US USD EIA Natural Gas Storage change (May 8) 1 112B 76B
14:30 16m CA CAD BoC Review 2
17:00 2h 46m US USD 30-Year Bond Auction
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IvanLabrie PRO IvanLabrie
snapshot


Ready for takeoff.
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IvanLabrie PRO IvanLabrie
snapshot


And it took off.
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IvanLabrie PRO IvanLabrie
One hour for market moving news. This looks like a potentially great trade.
I closed partially here, letting the rest run with an invalidation stop, away from the action to be safe.
Risk is less than 1%.
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I've been following you on this trade the past couple days Ivan and it has been quite impressive, great call.
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anilmangal TOP IvanLabrie
nice well done!!
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Justiceisfalse jangseohee
Seeing something similar.....
snapshot
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IvanLabrie PRO jangseohee
Don't want to get overly excited but it does look like a potentially great trade. I intend to hold until we retest the top mode from where the downtrend launched. It expires tomorrow.
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4H & 1h Setups Confirm USDCAD Long
snapshot
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IvanLabrie PRO moorekapital
It hasn't retraced much yet, I entered with a very tight stop, right at my invalidation level for the uptrend.
Let's wait and see. Tomorrow's news will potentially fuel further upside.
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Working as planned, stop is tight but safe since price hitting it would invalidate this being a new impulse up (and be a very bearish signal by crossing below the mode).
Watching for potential 4h scale in opportunities.
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Long worked perfectly. Now, see how price sharply pulls off from MM Target=|SX|-|DBOL|.
Upper Trend Channel line still possible.
Plus previous magnetic field zone, marked with green band
snapshot
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Still running, not concerned with the retracement here.
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I anticipate a gap up open:

snapshot
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IvanLabrie PRO IvanLabrie
Weekly downtrend expires on Sunday/Monday open.
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