USD CAD short only if NFP provides a direction of short
Hello traders and analysts,
we have an opportunity here for a short with Dollar strength amid risk off - only if NFP shows the right direction. As figures could be manipulated and also once the market has made it's move, we will also make ours.
Technical direction:
- Holding an indecision structure.
- weekly is an uptrend however there is a nice reversal from 1.40
- break of the trendline and now retracing.
- we can see the trend beginning to add long positions to correct.
- we have made higher lows on the 2 hour
- now in a consolidation zone with some great wicks forming to show anticipation for the next move.
COT data
CAD
Long Short Total %Long %Short
Avg_13 47,439 19,696 67,135 71% 29%
USD index
Long Short Total %Long %Short
Avg_13 21,244 10,212 31,456 67% 33%
Note: Trading is about timing. so even if our stop loss gets hit on the chart. We may not have entered all together and orders can be adjusted.
Trade what you see, this is purely our Bias.
We will most likely enter where we have positioned on the chart - but only if our criteria is met.
Good luck and enjoy
Why follow us?
Updates on our pairs as and when we can.
Swing trade out looks
10 years combined experience in capital markets
simple breakdowns for beginners to advanced .
KISS - keep it simple stupid.
we trade purely from naked charts, less indicators - remove the noise.
If you like our work, please leave a like or comment.
Thanks,
Team Lupa
we have an opportunity here for a short with Dollar strength amid risk off - only if NFP shows the right direction. As figures could be manipulated and also once the market has made it's move, we will also make ours.
Technical direction:
- Holding an indecision structure.
- weekly is an uptrend however there is a nice reversal from 1.40
- break of the trendline and now retracing.
- we can see the trend beginning to add long positions to correct.
- we have made higher lows on the 2 hour
- now in a consolidation zone with some great wicks forming to show anticipation for the next move.
COT data
CAD
Long Short Total %Long %Short
Avg_13 47,439 19,696 67,135 71% 29%
USD index
Long Short Total %Long %Short
Avg_13 21,244 10,212 31,456 67% 33%
Note: Trading is about timing. so even if our stop loss gets hit on the chart. We may not have entered all together and orders can be adjusted.
Trade what you see, this is purely our Bias.
We will most likely enter where we have positioned on the chart - but only if our criteria is met.
Good luck and enjoy
Why follow us?
Updates on our pairs as and when we can.
Swing trade out looks
10 years combined experience in capital markets
simple breakdowns for beginners to advanced .
KISS - keep it simple stupid.
we trade purely from naked charts, less indicators - remove the noise.
If you like our work, please leave a like or comment.
Thanks,
Team Lupa
Comment:
Now we monitor the zone between 0.5-0.61.8 as the chart shows
Trade active:
perfect - trade hit our zone and we sold. a nice 80pips+ holding now and will look to hedge if possible
Trade closed: target reached:
closed after initial move