Nico.Muselle
Short

USDCAD - a shift in trend ?

FX:USDCAD   U.S. Dollar/Canadian Dollar
2582 29 77
10 months ago
This pair has been very bullish for over a year now if you look at the daily chart . What I am looking for here is a small relief from the recent uptrend, supported by the OIL             price rising again. As you all probably know, the CAD is heavily influenced by the price of OIL             .

On the 4h chart, I am looking for a little rally into previous structure from where we could re-test the most recent lows again. This offers a nice R:R ratio of 2:1. Possible extended target could be around 1.34 area.

Thank you for clicking that "thumbs up" button and don't forget to follow me if you want to receive the latest updates on this idea and new ideas.

Constructive comments are always welcome !
9 months ago
Trade active: We had to wait for it for a while, but now this trade is active
9 months ago
Comment: Target hit : I took off 50% of the position, moved the stop loss well in profit and will let this trade run with a target of 1.3405
ArAlshammary
10 months ago
i agree in 4H it is overbought plus the moving average
i think it it will go down to 1.36 -1.34
+1 Reply
FxSaint
10 months ago
Was waiting to publish that, but now I guess no need :)

snapshot
+1 Reply
Nico.Muselle MOD FxSaint
10 months ago
Thanks for your reaction, pretty similar analysis it seems. Good luck !
Reply
mantasg
10 months ago
for me it's still in uptrend nothing changed price above 200ma price above trend line weekly candle closed above monthly pinbar high (failure to breke) so all now depends just on how down leg will look and where I get my long. Just different view lads we will see how it plays
snapshot
+1 Reply
Nico.Muselle MOD mantasg
10 months ago
Correct, on the daily chart we have to break and close below the previous structure low around 1.2850 to speak of a trend reversal. I'm however just looking at a retracement into previous structure which is very possible even from what I see on your chart as it would retrace to the trend line you drew in. Whatever happens, wish you good luck !
Reply
Wesual
10 months ago
Going to follow this! Thanks for the analyse!
+1 Reply
Nico.Muselle MOD Wesual
10 months ago
Thanks for the follow and good luck !
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albert.callisto
10 months ago
Came to the same conclusion (without seeing your chart before) with Ichimoku due to lagging span hitting a lot of resisting things
+1 Reply
Nico.Muselle MOD albert.callisto
10 months ago
Good stuff, let's see what the market has in store for us .. Good luck !
Reply
stream
10 months ago
do you accept another opinions ?
+1 Reply
Nico.Muselle MOD stream
10 months ago
Of course I do ... We would not have a market if everybody would have the same opinion :)
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stream Nico.Muselle
10 months ago
lol sure if we all are right , we all suppose to win in deals . Unfortunately , 90% from us are losers
Reply
Nico.Muselle MOD stream
10 months ago
That is true .... 2 people can have different opinions about where the market will go and still be both winning their trade, (or they can both lose).
What I mean that is if I want to buy, somebody has got to have a different opinion and want to sell ... otherwise I cannot buy at the price I want. So the market only exists if there are people with different opinions. :)
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mantasg Nico.Muselle
10 months ago
at the end matter just where we take profit or loss :) http://prntscr.com/a091lk
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albert.callisto mantasg
10 months ago
What is puzzling me about these sentiment indexes (% bullish vs % bearish) is that we are not holding positions with the same objectives, we don't look at the same timeframes and positions may be held during 1 hour or 1 week or 1 month...
+1 Reply
Nico.Muselle MOD albert.callisto
10 months ago
True, that's why you should take those with a grain of salt as the percentages can change very quickly ...
Also, the percentages only reflect the number of orders, not the sizes of the trades
Reply
mantasg albert.callisto
10 months ago
yes we not hold positions for long term but when you see for example breake of ressistance o support and you see market down but longs increasing drastically for example this is signal for me that many many traped same like was this week with eurusd
when it breakes trend line
Reply
rv
10 months ago
put the other photo m8, with the sweet babe
Reply
Nico.Muselle MOD rv
10 months ago
I have no idea which photo you are talking about :) I never had a picture with a "sweet babe" here as a profile picture :D
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BogdanBratu
10 months ago
This has already started to go down. Have you already made your move?
+1 Reply
Nico.Muselle MOD BogdanBratu
9 months ago
Patience rewarded, my entry got filled today ... let's see now where it will take us :)
Reply
pathaniasourabh
9 months ago
Can we see 1.34 area ???
+1 Reply
Nico.Muselle MOD pathaniasourabh
9 months ago
Initially I am aiming for a re-test of the previous lows ... If that level breaks the next support level is around 1.33
Reply
Akil_Stokes TOP
9 months ago
Nice, looking at the same area over here
+1 Reply
Nico.Muselle MOD Akil_Stokes
9 months ago
Excellent ... it was a long wait before we reached this level .. What target are you aiming for ?
Reply
Akil_Stokes TOP Nico.Muselle
9 months ago
I'd be looking for a retest of previous support followed by an extension to 1.34's
+1 Reply
Nico.Muselle MOD Akil_Stokes
9 months ago
Glad to see we're on the same page ! Eyeballing same targets here :)
Reply
evo8fx
9 months ago
Excellent Trade! Big props man.
+1 Reply
Nico.Muselle MOD evo8fx
9 months ago
Thanks a lot for your support, this indeed was an great and painless trading opportunity. )
Reply
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