Loads of crowds are heading north on USDCAD. I don't follow crowds - sorry. In this screencast, I show my rationale for a contrarian perspective based on patterns in USDCAD (1D) and weakening in US-Dollar (1D) trend strength. I'm currently exploiting a 30 min time frame microtrend and willing to take a controlled loss (aka stop-loss), to limit how wrong I may be. I've focused on US-Dollar moves which is a limitation of this assessment.
There are no predictions here, as I operate without targets.
I agree with your analysis. Very imaginative. In my opinion, a 14% reduction may be possible.
Captain_Walker
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@meszaros, As I operate a no-targets system (outlined in a previous video linked below), I have no expectation of where price may end up and therefore make no projections. I allow the market to lead and stop me out for an affordable loss. I control only entry position and trailing stops. The market does the rest of the 'hard work'.
I am revising my estimates on strength of the US-Dollar (which is not about targets), in the light of new information. My estimates can always be wrong. In USDCAD on the 30 min microtrend I've taken on, the markets may show me that I am wrong. All I need to do is limit how wrong I am. I therefore can dare to be wrong, so long as it is an acceptable loss.
I agree with your analysis. Very imaginative. In my opinion, a 14% reduction may be possible.