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Charliepips11
Mar 24, 2024 8:05 PM

USDCAD is going to Tank down but when.. Short

U.S. Dollar/Canadian DollarFXCM

Description

So to break this trade down down properly I started by looking on the daily time frame and saw there was a bullish liquidity purge, came down to our 1H time frame to confirm that we are indeed inside of a order block and to be clear about this particular setup its the "Holy Grail" or Elliot wave pattern. To see things a little more clear I've used the 15 or 5 MIN time frame to spot out the distribution and accumulation phases and liquidity has been swept from March 19th. I'd look for a 5 Min entry at 1.36127 and target the very bottom consolidation at 1.34558. SL at 1.36146. To maximize any profits trail stop losses!! secure the BAG and good luck!
Comments
khalilsow
Where can we re-enter?
Charliepips11
@khalilsow1912 well the next best entry in my opinion would’ve been that FVG on the 5 min time frame. After we have another push to the down side, wait for a pullback. Another opportunity should present itself as long it’s in a premium zone. But be patient, a pullback will happen!
khalilsow
Thanks
pullbacksignal
Good trading plan

StewySongs
Great analysis.
Charliepips11
@StewySongs Thank you.
FXCM
Looking solid! Keep analyzing with such detail. Keep up the good work!
Charliepips11
@FXCM thank you for the support
KennyMSmith
I’m waiting for it to sell off today aswell
Charliepips11
@KennyMSmith yessir! Already in profit so far📈
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