ARFXC
Short

Short On USD/CAD SELL SELL SELL !!!

FX:USDCAD   U.S. Dollar/Canadian Dollar
9 months ago
Reasons For

-We are now down trending on the 4 hour chart
-We always want to trade in the direction of the trend
-We are making lower lows and lower highs
-We are trading below key level at 1.4000 Which we broke with a strong downside move
-If we put a Fib in from previous Lower high to the new Lower low price is reacting to the 0.618 Level
-Sign of retrace Over ?
-We have put in two dojis in on the 4 hour time frame
-We have also come to our trend line that is acting as Res and also showing signs of bullish weakness

So if we put all those together on the 4 Hour time frame we are extremely bearish

If we look at the daily
-We are also making new lows and currently in a new forming down trend
The trend is your friend
-The biggest confluence for me is we have broken the previous higher low on the daily when the uptrend was in affect we have come lower then the previous higher low Which also signifies a change of trend and direction
-So after all the bullishness over the past couple years isit over ?
well for now we are in full affect to make a new lower low in this current trend which is at 1.3500

Heads up
Remember guys this pair is heavily influenced by Oil             so it is a more risky pair to trade but in terms of technicals it is a great setup :)

Also my entry is very aggressive id recommend waiting for a strong bearish candle on the 4 Hour time frame to confirm more confluence and be a strong selling setup as it confirms our momentum which is bearish So id Recommend waiting but if your a risk taker like me join me lol ;)

Only 65 pips Risk well worth the risk with a great Risk Reward of 1:6 :)

Trade safe
My entry 1.38897
9 months ago
Trade closed: stop reached: Really shocked that this one hit stop loss
but i am still bearish so i will be waiting for a rejection from 1.4000
9 months ago
Trade closed: target reached: anyways a really small loss of 65 Pips
ForexMillionairez
9 months ago
both on the same level ! nice one
+1 Reply
ARFXC ForexMillionairez
9 months ago
Yessir !
lets see what happens :)
Reply
forexmech
9 months ago
Already in the trade. This looks like a very solid trade. thanks
+1 Reply
ARFXC forexmech
9 months ago
Thankyou i agree nice setup
Reply
Sam0101
9 months ago
Good job
+1 Reply
Fx.Master
9 months ago
Thank you again , im in :)
+1 Reply
ARFXC Fx.Master
9 months ago
Thanks all the best hope it plays out for us :)
Reply
breeJy
9 months ago
Great setup lets hope it goes all the way to Tp
+1 Reply
yiaya1234
9 months ago
Agree with your setup
Love the detailed Analysis thanks
+1 Reply
TradingFX1234
9 months ago
Already in this trade
just add confirmation to see you also enter the same pair in the same direction for nearly the same reasons
Confidence boost !!! :)
keep up the good work
+1 Reply
ARFXC TradingFX1234
9 months ago
Welldone
and thankyou i shall continue
Reply
wen_325
9 months ago
Nice
+1 Reply
ARFXC wen_325
9 months ago
Thankyou
Reply
LeviEvans
9 months ago
Great setup, I've jumped in aggressively also I trust your signals, setups and judgement
+1 Reply
ARFXC LeviEvans
9 months ago
Thankyou :)
Risk taker ;)
Reply
JahedHussain1103
9 months ago
Good set up as always with great risk reward!
+1 Reply
ARFXC JahedHussain1103
9 months ago
Thankyou
Risk reward key in Trading :)
Reply
ThabaniMjoli
9 months ago
yeah, m in love with the details in your analysis too. thanks for this 1 too lets wait to be paid......
+1 Reply
ARFXC ThabaniMjoli
9 months ago
Details key
Hope some people can learn and take some small education from my analysis :)
Reply
swisse1
9 months ago
Nothing but profits since ive joined you i hope it stays this way
Thank you for your hard work keep it up
+1 Reply
AaronJo
9 months ago
well done
Reply
DAVID_GIRALDO
9 months ago
ive been saw it hahaa usd cad is a sell all day almost everyday and its been a sell ever since that big abcd on the weekly. been killin it on this pair!
Reply
youcef4787
9 months ago
nice chart
Reply
Excellent setup!
Reply
Amina66
9 months ago
Trading made easy as usual!
Reply
Ryanwollacott
9 months ago
Can see this dropping nicely! Great setup
Reply
LukaszMosinski
9 months ago
hmmm looks not so good right now....
Reply
Kenyanpiper
9 months ago
that's too soon. a rejection at 1.400 will be more like it. there is also a falling trendily to consider
+1 Reply
Nico.Muselle MOD Kenyanpiper
9 months ago
I agree with you. I have this setup
USDCAD - a shift in trend ?


PS : it seems the author's setup hit the stop loss.
+1 Reply
Excellent analysis!
+1 Reply
SkyrEk
9 months ago
Stay short mate, at around 1.40 region, your SL is alittle too close for comfort. Cheers!
+1 Reply
ARFXC SkyrEk
9 months ago
Yes i agree im still very bearish justs going to wait
+1 Reply
Will you update this chart when it goes down?
Reply
Amina66
9 months ago
exactly! even I was waiting the price to break (fib level 0.5) .. but unfortunately went towards up! :(
Reply
Christian88
9 months ago
I think you are right, though your SL does not make any sense
Reply
lukehall84
9 months ago
Unlucky with this one earlier onto the next!!
Reply
tjcfx
9 months ago
Shame this one hit stop. Looking to re enter on this one soon, analysis seemed correct think we just got in that little bit too early...
Reply
tntsunrise TOP
9 months ago
doesnt' matter whether the loss is 65 pips or 100 pips. if you are using 2% risk per trade, it should be 2 % always. coz your lotsize is different when you stop loss is different
+1 Reply
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