USDCAD Multiple AB=CD Guys, from the chart we can see there are Two groups of ab=cd (Red Color) and they formed a BIG AB=CD (Black Color) Therefore the USDCAD can still move higher till 1.3575- 1.3640 area However, Knowing where it might go wouldnt help you make money. We need a Trading Plan to enter ! Solution: Find pull back of USDCAD (1.3060-1.3080) to buy SL: 1.2095 TP: 1.3570
Trade active
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1.3080 touched
Comment
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SL 1.2950 Thanks TanveerAlam
Trade closed manually
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1.3080 TO 1.3130 earn 50 pips rest trade hit Break-even Sl
@anyoneg, LOL probably mistyping. from the chart SL is 1.29921
UnknownUnicorn2012266
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what about rate hikes next week ?
TanveerAlam
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SL 1.295 i guess
DocWonmug
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Obviously I am looking at this way after the fact. But as of 4/24, this came out almost EXACTLY per your analysis. Great call. Would have made a darn sight more than 50 pips had one stayed in the trade. Just need to have room for the SL to breath. This trade never got close to the original SL of 1.2995, so it would have been safe to leave it there. But you never know.
I've been messing around with the AB=CD pattern a lot lately. Hoping to have some stuff worth showing off soon. I hadn't thought about using two different AB's like you did. Thanks for the idea.
OrionX
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This was a really prescient call.
rikabc
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wowh!!! that was an incredible trade!!! respect!!!!
bforex2020
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hi
In the daily chart
The pattern Shepherd Can be seen.