This is the followup to my previous USDCAD chart, where I boldly called the top. It would seem that I was right before and now we have an interesting setup here, with a clear mode, a very low volatility topping formation in price and new lows in rgmov ahead of price.
We can place a pending short entry under the weekly pivot and update it on a daily basis (it's what I'll do until the short signal gets triggered), using range expansion as the trigger, or wait for one bar to close under the mode without touching it for one session and selling on close, with the stop above the mode.
Good luck if you short this pair here. Managing the position will be half the battle here, check out my zulutrade signal in my profile. I'll be taking the trades I publish here.
This pair will exploit on thursday, most likely to the downside. Regards.
IvanLabrie
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Yes, exactly. I'll keep trying to get in as soon as I confirm the downtrend using time at mode. It should be right when an impulse starts.
ElPatron.Y
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Based upon this pair I trade crude oil and it is making a big ass 4h hammer!!
IvanLabrie
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Oil is looking terrific for a long :D
Should rally this week.
I think it might even start before the rates, but that'd be strange.
Timing_is_key
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Like always...great analysis Ivan...If we get the crack I'll add to my position on a PB and trail wide, let's see how it unfolds
IvanLabrie
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I'll simply update the entry on a daily basis. The setup is pretty much a ticking time bomb. :)
moneymaking
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This could work mate. Fed news is keeping me from pulling the trigger :(
moorekapital
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Same. Im exercising caution until after news. Will be playing timeframes lower than my usual 4H/Daily. Otherwise, I dont stay in trades for long. Overall, I think best time or general directions becomes clear next week