USDCAD Short. Daily fib pullback and strong sell signals.
This trade was spotted from the daily chart. Price has pulled back into the downtrend, giving us prime levels to get short. 15 min chart displayed price much better.
This trade already triggered once. I should have been watching for the entry half way to the stop, but with school I'm too busy. Patience never hurt anyone.
Setup bar High 1.26068 Low 1.25536.
Entry 2% of account Short at 1.25535
Stop at 1.26071
Difference of .0054 pips.
T1 1.24995
T2 1.24455
T3 1.23915
This trade already triggered once. I should have been watching for the entry half way to the stop, but with school I'm too busy. Patience never hurt anyone.
Setup bar High 1.26068 Low 1.25536.
Entry 2% of account Short at 1.25535
Stop at 1.26071
Difference of .0054 pips.
T1 1.24995
T2 1.24455
T3 1.23915
Trade active
Comment:
Price not only ran half way to the stop after triggering the first daily signal. Price ran all the way to the stop and completely wiped them out. That is my ALL TIME FAVORITE place to trade, right when everyone is getting taken out. Rob Hoffman once told me, the market moves in the right direction with as few traders as possible. Now the USD has chewed some people up (myself included) its time to resume.
Comment:
Price is still coiling, but not taking off like I would have really liked it too. After seeing the entry hit twice with a full stop out, price should be very ready to move down. The fact that price is not moving down indicates strength below. However price is slowly grinding down, which shows institutional shorting.
Trade is still on, I will not pull it or even trail until T1 or stop is hit.
Many currency pairs are acting funny in relation to the USD, this always happens as USD trades sideways. Most notably, AUDUSD is struggling when all other XXX/USD pairs are strong and USD/JPY is strong when all other USD/xxx pairs are falling.
Who knows whats going to happen. I'd love to see USD break below 93!
Good luck!
Trade is still on, I will not pull it or even trail until T1 or stop is hit.
Many currency pairs are acting funny in relation to the USD, this always happens as USD trades sideways. Most notably, AUDUSD is struggling when all other XXX/USD pairs are strong and USD/JPY is strong when all other USD/xxx pairs are falling.
Who knows whats going to happen. I'd love to see USD break below 93!
Good luck!
Comment:
Comment:
Full position being closed at T1. Simple 1-1. Market correlations are starting to get sporadic as USD appears to be in a solid range
Trade closed: target reached:
Full position closed at T1. Now it looks possible price could continue to move but all that matters right now is USD.
Comment:
Position closed, but damn I'd love to still be in.
