FX:USDCAD   U.S. Dollar/Canadian Dollar
15055 63 293
Hi Guys, keep an eye on this one , it is also at the top of a daily consolidation as I showed last friday.

Trade with care
Thank you for your support.
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The patients on this sell setup pair ,when it does break its going to go
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Have the very same setup. I gain more confidence and know that I'm in the right track by looking at your thoughts. Thank you for sharing Mr. Anil
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I also hav a similar setup for this pair, lets see what happens
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Looking forward to this one
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After breakout, there any chance of the pair rebounding off next trend line back up to upper trend line?
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Everything is possible, but that's a different story, first we need to get this short and after we will see how it will develop.
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debainnoob ukrapidexchange
Okay, just deliberating if i will hold this short for the next leg down if we do indeed get this short...
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debainnoob ukrapidexchange
Will you be waiting for a correction after breakout before shorting or jumping straight in considering its anticipated to be a fast move?
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It's already had an impulse down on a lower time frame, waiting for it to make a correction and then sell if it breaks it. Never trade just of anticipation.
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debainnoob ukrapidexchange
Sure I'm not selling till I see a break, but trying to look ahead a bit regarding the next wave, If we see this wave down.
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arshadd debainnoob
No Mr.. Divergence is also there
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i think break out first level
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JayNathanLai ktopshtr765
break at what level?
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Power of wave over news
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breaking?
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It seems to me that we are in a consolidation move under the trend line, the move did not happen fast and maybe we see a test of the high 1.33077, what do you think?
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OK, I followed the flagpole down, the flag up and now it's broken, time to short.
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As your chart shows MACD Below 0 is getting weaker each time, also above 0, so it looks like this up and downs are getting chopped. for now i also expect a low point in the end of the week.
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Happened a bit quicker than expected, news events also messed it up a bit, but anyways I was able to short in the right place, so hopefully it will just go!
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Maestro, you are like a serpentcharmer, markets follow your arrows :-)))!
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lol
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got 55 pips on this, awesome
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Thank you Anil , it was a nice Trade
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It just started
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https://twitter.com/locatellicharts/status/786616317235298304
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locatellicharts PRO locatellicharts
Sorry rigth link here
USDCAD 1H
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anilmangal TOP locatellicharts
????
+2 Reply
!!!!
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That went fast. I couldn't find a sell setup as it went.
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Will you be hosting the weekly webinar tomorrow?

And of course, thank you for the amazing content you always put up
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Hey Anil, could you please talk a little bit about correlation in today's webinar please? Thanks.
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Could we be looking at another sell opportunity here to add to our position?

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Market moving US economic data coming, set tight stop losses for this pair incase of positive news fuelling a reversal. Heres hoping to negative news, get this pair lower!
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Based on the results of the economic data, I can see this pair straddling the trend line for some time...
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anyone going to go for another short if this 1 hour candle closes below the trend line?
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Great call Anil!
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Got our second breakout!
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Its a doozy!
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Thank you very much Chief, God bless you.
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what do you think about this now.?..after breaking second trendline.
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Thanks Anil...
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USDCAD flag formation as predicted by Anil Mangal
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judderod judderod
USDCAD forming a larger flag
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Kumail judderod
Has broken now, I guess
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judderod Kumail
Yes, I am in the trade, initial stop above 13185. However the break currently looks corrective so the down move may take a while.
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Kumail judderod
I'm in too, but my Stop is lower. I think i might even move it to my breakeven at 1.31212. (Btw, I'm only just Demo'ing still)
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A good sell now?
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Anil, I cannot see the candles, because your arrows cover them!!
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Quite a big pull back (assuming because of the fundamental news release). Curious to know the affects. Do we expect it still to head down to the bottom structure line?
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Kumail Kumail
Can anyone (Anil?) suggest any updates for this now?
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I don't think news can change the structure, not in a long term.. if you use stop loss outside the structure and 1H / 4H / Day charts (even higher), the probability is very low of a false stop loss
(sorry bad english)
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Kumail lincolnborgesrp
After seeing this happen a few times, I can see this now. And Anil said the same thing.

I guess I wonder though, about not changing the structure. But some people talk about a pattern changing or the structure lines change, based on some new movements.

I mean, if it was guaranteed that after the lower breakout if it were to get to the structure line, then it would be too easy (and we would all make lots of profit).
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Kumail Kumail
This is kinda what I am trying to explain. Look at the upward movements on the 4h now


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I made about 50 pips on the way down, and closed all positions luckily (I say luckily, because I am still learning, so do not know when the structure suggests that it is heading in the other way).
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the price hit my stop gain..
this is a big up move, but this case represents only a small percentage of the all cases when news impact on price.

if you get 1000 examples during one year.. you will see that only a few of than do this "impact move", most of the time news shake the price but he keep going.
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Kumail lincolnborgesrp
Oh, sorry to hear. Did you not move your stop to break even?

Also, don't get me wrong - I actually agree with you. The news made the price move exactly as per Ani's chart. Only thing was that it did not go all the way to the yellow structure line - which I "think" is because of the news.

Hopefully Anil can update and share his view again :)
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no no.. my stop GAIN is when my stop give me profit.. i was earning a good money so i close up my stop to a gain place and after BOC news the price hit it..
now im out of USDCAD, but im glad to made some pips =)
+1 Reply
Kumail lincolnborgesrp
Nice :D
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Another opportunity to jump on on this short:
USDCAD Short
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What does everyone think, is the downtrend still going to continue? Or was that move just now a completion of the wave down to the bottom of the daily channel? Didnt quite reach the bottom did it. Fast too!
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Niverto nxtleveltrader
First I trade what we see not what I think. Then with experience we see some moves being repeated again and again, so in this case I have one level where I see the Market is likely to be attracted (green box), it is where I am predicting the market to be attracted. I need a case for entry so I have two think that raised my attention: (1) The lower high forming the downtrend (2)the break of the structure right aside the target 1. The market attempt to get back to the previous high (entry box) before losing its strenght and being attracted to my final target (green box) as predicted.
I hope it clarifies
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how do u see it now anilmagal ? right now is exactly under the higher channel line
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speechless, thank you.
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