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SmoothhhPips
Oct 31, 2020 7:38 PM

USDCAD - SellOff, Rally.. or both? 

U.S. Dollar/Canadian DollarFXCM

Description

FX:USDCAD

what will we see next with USDCAD?


If you click on my chart, hopefully you can see what I see; if not I'll guide you through it.

March 19th, 2020 - September 1st,2020 (the very start of the COVID-19 Pandemic) USDCAD's value went down an estimated 1650 pips. On September 8th, 2020 price broke out of a falling wedge pattern; therefore causing it to rally up until coming down and making its new higher low. Price began forming an uptrend once again after making this new higher low. If price startes to curve after hitting point C (1.348-1.345) we will see a sell until off past this higher low ( until around 1.295-1.3).

Trade active

Trade 160 pips in profit; I recommend closing half your position.

Trade active

210 pips in profit.

Comment

I closed 75% of my position; 275 pips in profit. Move SL to entry.

Trade closed manually

closed 375 pips in profit.

Comment

600+ pips profit
Comments
Malume9
Help me out i' struggle to master my trading
SmoothhhPips
@Malume9, message my telegram @SmoothGiooo or my Instagram @SmoothDias
SmoothhhPips
Update: USDCAD legged down as expected; currently residing at 1.31555; 160 pips in profit.
Malume9
is this really time trading sir
SmoothhhPips
@Malume9, 375 pips profit; trade just closed.
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