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tntsunrise
Oct 10, 2017 12:33 PM

USDCAD Structure Pull back Buy: Long

FX:USDCAD240
U.S. Dollar/Canadian DollarFXCM

Description

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USDCAD Structure Pull back Buy:

1.2495 is the previous structure and
also 1.414 ext of the AB move

Buy USDCAD now with SL 1.2463

Looking for another round of rally
1.2540 / 1.2600 / 1.2800

Trade closed manually

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Price went up to 1.2530 first then hit SL
FibonacciSupport and Resistance
Comments
twitterfx8
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Another loss making idea of tnt
ernstschwarz
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@twitterfx8,

not by every chance.
ernstschwarz
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@ernstschwarz, there is a strzucture in the making that looks like it will break to the upside.

but i would not buy _now_. buy after confirmation only.
twitterfx8
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@ernstschwarz, You can see now!
ernstschwarz
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@twitterfx8,

his stop was not hit. he exited manually.

your comment was too early im my opinion and you gave no reasons.
ernstschwarz
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@twitterfx8,



this looks like another move down is coming now
ernstschwarz
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LIKELY ANOTHER MOVE DOWN IS COMING. YOU CAN SEE IT IN THE STRUCTURE (PLEASE COMPARE TO THE OTHERS I MARKED...)

DOES NOT HAVE TO INVALIDATE THE IDEA OF TNTSUNRISE. JUST SAYING: DONT BUY IT NOW + IF YOU ARE IN A BUY ALREADY TP OR MOVE TO BREAKEVEN, YOU MAY GET A BETTER ENTRY FOR A LOWER PRICE LATER ON AND CHANCE TO REBUY
ernstschwarz
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@ernstschwarz,

i am still not bullish on usdcad for another reason:
there has not been any strong and sharp downmove (a first noticable impulse down).

a chart has to be taken as an uptrend until the uptrend channel is broken with a sharp strong move + (plus!!!) a confirming flag that suggests more downside + (plus!!!) the break of that flag to the downside. it is a hell of a patience game!
ernstschwarz
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@ernstschwarz,
ernstschwarz
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@ernstschwarz, you see? what in that charts makes you think it is no longer an uptrend.
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