USDCAD Short

OANDA:USDCAD1D

USD/CADOANDA

Description

⋅ Jan 5, 2019 8:56 PM

I'm thinking we can get 300 pips before we see a significant correction .. thoughts ?

Trade closed: target reached

⋅ Feb 15, 2019 1:27 PM

Chart Patterns

Comments

mcmarc2000

⋅ Jan 5, 2019 11:19 PM

AB=CD Pattern

Erland

⋅ Jan 6, 2019 10:02 AM

@mcmarc2000, I would give it a slight retrace back to 1.35 before a 300 pip fall. See 4hr chart - it is begging for 50-90 pip up before fall is continued.

mcmarc2000

⋅ Jan 7, 2019 1:22 AM

@Erland, yes possible .. both USD n CAD news coming out in approx 13 hrs ..

mcmarc2000

⋅ Jan 7, 2019 1:25 AM

@Erland, 100MA sitting @ 1.35 4HR

Erland

⋅ Jan 7, 2019 8:02 AM

@mcmarc2000, I would watch 1H chart for a possible entry, currently it is a waiting time. Not only MA, but also Ichimoku cloud sits at 1.3527 so I will have a look when it gets there to see how the price behaves. Consider having a look at CAD/CHF and CAD/JPY as they also offer buying opportunity.

mcmarc2000

⋅ Jan 7, 2019 9:35 AM

@Erland, thank you .. will do, noted

Erland

⋅ Jan 7, 2019 3:28 PM

Market decided not to give us proper entry and since H4 RSI is around 22 - I am not willing to enter. Looking at CAD/CHF instead as it had some pullback and got a good spot for entry.

mcmarc2000

⋅ Jan 7, 2019 3:30 PM

@Erland,

mcmarc2000

⋅ Jan 8, 2019 4:30 AM

@mcmarc2000, Double Bottom with RSI divergence .. bounce off S1 Weekly / 23% Fib level ... we might be headed up for that correction here soon.

Erland

⋅ Jan 8, 2019 8:23 AM

@mcmarc2000, Yes, that is what I would be looking for - enter around 1.35 when I see that the price is about to drop. 1.355 would be best