Might as well make a public idea for that one. We are getting in a clearly important area, and starting to see bearish divergence on the 4HR. So I think it is a good idea to short it if: * It goes up higher. * It keeps getting more bearish divergence.
Just a little pullback soon, and in a while at that 0.768, can expect a nice big retrace. Should retrace a(t least a) bit (day trade) BEFORE getting all the way up to 1.342 where a swing trade can be open, and we can legit expect a 500 pips retrace! Shorting just 1 lot represent 7.5$ / pip exposure so if it works out that would be a 3750$ profit and it seems highly likely it is what would happen.
I'll bother with stop losses when I'm in the trade(s) but clearly it won't be too tight and won't be at 500 pips up lol.
* Oh and long the pullback(s) too if it gets to interesting areas of course. CAD weak, USD POWERFUL OVERPOWERED. Ez win highly likely there.
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Going to soon see if these lines are valid.
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Going to wait for it to get a little higher.
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This vertical move... Ok I'll keep it simple: I either short it on 0.786 looking for a small retrace (close 2/3 & ride the rest) Or I wait to see bearish divergence (daily chart) & open a swing trade, it should go retest the MA's.
Some other traders say it might break up even further beyond the trend line, but I am not bullish - rather bearish.
Please keep us updated.
Thanks