Well, the NFP has thrown a wrench into all my hard work analyzing this pair. After watching this pair drop for the past week and already counting my pips from this trade post, I have now closed the trade as the NFP shot prices up past my SL on this trade. Fortunately, I don't trade the NFP and had already suspended this and all my trades before the NFP struck. I "suspended" this trade @ 1.31674 for a -3 pip loss. For those that have doubts, you can join my FB group and see my post where I told all my FB followers that I was doing so and advised the same to all. My paid members all were warned and were saved from losing pips on this trade.
Here was the last chart update on this trade:
So now that the NFP has passed and the craziness following it, I will be re-analyzing what has happened and then go from there.
Your forecast was correct but tight stop loss as wave B could extend 1.3(wave A was from 1.3280 to 1.304===240 pip) times of wave A(wave B can be from 50% to 1.3 times )but you will see in the next 2 weeks usdcad will hit ur target 1.296(it might extend upto 1.355 max) before goes down. first to 1.296 or 1.294 then rise towards 1.3420(wave A==from 1.3455 to 1.283)to complete wave B 100% to 1.3 times to 1.37) as oil is heading towards 50$ to complete wave B(during this time usdcad will hit ur target) then fall toward 40$ (during which usdcad will go towards 1.3420 or above)
venckusarunas
⋅
Thanks for posting, I like your analysis - clear and straightforward. Some times market takes our stops, but its part of the job. Respect for your honest post when been stopped out.
Did not posted idea yet, but I'm waiting for wave v:(c):2 to complete to get into short position. As sidhgenius suggested.
Have a good weekend :)
sidhgenius
⋅
i think its a good time to sell now
EverythingForex
⋅
My advice? Don't. Not unless you have a solid reason to do so other than it's "overbought". Maybe you do have a good reason but if you do, please post a chart. Maybe it can help someone else.
sidhgenius
⋅
positive Canadian news came today and i have Stop loss today's high.
Synapse
⋅
I am by no means an expert in Elliot Wave Theory, but perhaps the structure I have for the market might help in your re-analyzing. Appreciate your charts and hard work, always a pleasure to read.
EverythingForex
⋅
Appreciate the chart. It looks good. I'll see what my system tells me after I have done my work on it. Thanks.