botje11
Short

USDCAD Bearish Wedge Part 2

FX:USDCAD   U.S. Dollar / Canadian Dollar
Previous trade was a perfect one, took risked some profit with the second 50% position to trail stop for an ever bigger drop but those got hit. Now from the looks of it we might have a bear flag now, but not convinced yet so i am going in with half a position here and will wait for a break of the yellow zone to get in with the second part. Still a chance for a big drop for the mid-term


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Previous analysis:

Comment: That was a very quick loss :( good for only entering half.
It is again a big resistance now so there is a very decent chance it might down again, but i traded the bear flag in this case, so rather just wait and see first what happens. This bounce up should not have happened, so could be something else is going on now.

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David, is this short call this valid? Now at 1.32 zone
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asparoth ThreeShs
@ThreeShs, stop loss got triggered so technically it’s closed now.
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asparoth asparoth
It still looks like a good short though I just think our entry was too high and SL too tight
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botje11 asparoth
@asparoth, Yes, stop was too tight, because i traded the bear flag and not that resistance zone
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botje11 ThreeShs
@ThreeShs, You can try, but would keep that red resistance on the left as a important level
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Stop loss triggered. Will we re enter? Still looks bearish but if we check fib lines then we should enter 1.3225
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botje11 asparoth
@asparoth, It does, just updated, make sure you don't get too attached.
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i just shifted from crypto to forex trading ....its damn easy to trade on forex ...very easy money
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troy_stevenson Rohit_Shinde
@cryptotrade89, Just remember stop losses.. easy for things to go south.
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Rohit_Shinde troy_stevenson
@troy_stevenson, i have built my strategy to trade..i strictly follow my strategy ..
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