FX:USDCAD   U.S. Dollar / Canadian Dollar
361 5 22
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Order cancelled: I will update this trade soon
May I know why you are short on this pair? It looks like the KS is sloping upwards and the price is above the cloud.. how can you follow the prediction that the price should go down? Is it because of the divergence? Is it means that divergence is an indicator of market turn? Thanks for your explanation.
Reply
Hi

I'm looking to enter this trade on the daily actually but I want to minimize my risk. so I'm using H1.
If I wanted to trade H1, I would only buy and have a stop and reverse at the critical level but I'm expecting the first corrective run to be over soon so I'm not too keen on going long yet

Here is the chart so you can see the whole logic behind this trade...

Reply
reefque Ichimoku_Trader
I see. One more thing..how do we determine which level is the critical turning level from bullish to bearish sentiment or vice versa?
Reply
Well, I use my Pwaves and Twaves to determine that.
For you, it would be ok to use yesterday's high or low. That will give you very good results.
Mine is just more fine-tuned.

Good luck
+1 Reply
Ichimoku_Trader Ichimoku_Trader
Above, I am referring to using the H1 critical level
+1 Reply
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