USDCAD THREE LEAVES PATTERN Short

U.S. Dollar/Canadian DollarFXCM

Description

⋅ Dec 22, 2015 2:57 AM

This Pattern looks like a Trefoil
-- Just like Adidas Logo . right?

we can enter a short position after it breaks
the 3rd Leaf!

Trade closed: target reached

⋅ Dec 23, 2015 4:08 PM

Target hit 1.3855

Comments

EL_KHIBRATTOR

⋅ Dec 23, 2015 4:15 PM

Good Trade, why USD/CAD goes down while USD/CHF goes up ?

aren't they coorelated ?

Mughal2657

⋅ Dec 23, 2015 4:24 PM

OIL

Mughal2657

⋅ Dec 23, 2015 4:25 PM

tntsunrise

⋅ Dec 23, 2015 5:09 PM

not really. CAD follow the oil

Mughal2657

⋅ Dec 24, 2015 4:40 PM

absolutely wright CAD follow the OIL i think CANADA's 25% GDP based on OIL is that wright?

Link77

⋅ Dec 24, 2015 5:45 PM

Yes, Canada's GDP is mostly oil weighted. CAD will always follow oil except during financial events such as interest rate announcements or data releases. These re-balance the price and then CAD is locked back to oil. Unfortunately, Canada has a very limited economy, thus the oil lock.

WilliamsAdegbola

⋅ Dec 24, 2015 3:57 PM

I used to wonder why too. Don't always expect correlated pairs to always correlate!

Link77

⋅ Dec 23, 2015 5:04 PM

Nice. Very precise Mr. TNT. I followed you but did not have the courage to hold and was out early with a small profit.

Rayge

⋅ Dec 23, 2015 4:32 PM

Seems like a top, may down to 1.37 area

fxrandal

⋅ Dec 23, 2015 2:43 PM

Hi, do you think this pair has hit the top for the long term, or is it gathering steam to continue up? I got short at 1.39956 on the 18th, and wondering if I should hold or take profit. Thank you for your input!