Nico.Muselle
Short

USDCAD - a shift in trend ?

FX:USDCAD   U.S. Dollar/Canadian Dollar
2591 29 77
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.

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Constructive comments are always welcome !
Trade active: We had to wait for it for a while, but now this trade is active
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
i agree in 4H it is overbought plus the moving average
i think it it will go down to 1.36 -1.34
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Was waiting to publish that, but now I guess no need :)

snapshot
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Thanks for your reaction, pretty similar analysis it seems. Good luck !
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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
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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 !
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Going to follow this! Thanks for the analyse!
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Thanks for the follow and good luck !
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Came to the same conclusion (without seeing your chart before) with Ichimoku due to lagging span hitting a lot of resisting things
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Nico.Muselle MOD albert.callisto
Good stuff, let's see what the market has in store for us .. Good luck !
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do you accept another opinions ?
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Of course I do ... We would not have a market if everybody would have the same opinion :)
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stream Nico.Muselle
lol sure if we all are right , we all suppose to win in deals . Unfortunately , 90% from us are losers
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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
at the end matter just where we take profit or loss :) http://prntscr.com/a091lk
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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...
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Nico.Muselle MOD albert.callisto
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
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mantasg albert.callisto
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
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put the other photo m8, with the sweet babe
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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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This has already started to go down. Have you already made your move?
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Patience rewarded, my entry got filled today ... let's see now where it will take us :)
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Can we see 1.34 area ???
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Nico.Muselle MOD pathaniasourabh
Initially I am aiming for a re-test of the previous lows ... If that level breaks the next support level is around 1.33
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Nice, looking at the same area over here
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Excellent ... it was a long wait before we reached this level .. What target are you aiming for ?
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Akil_Stokes PRO Nico.Muselle
I'd be looking for a retest of previous support followed by an extension to 1.34's
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Glad to see we're on the same page ! Eyeballing same targets here :)
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Excellent Trade! Big props man.
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Thanks a lot for your support, this indeed was an great and painless trading opportunity. )
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