glennmercer
Short

USDCAD Bat Short & EW Count: High R/R Against Invalidation

FX:USDCAD   U.S. Dollar/Canadian Dollar
USDCAD             is up against the EW count invalidation level. This means two things: 1. We have an excellent R/R opportunity 2. Wave count for the correction is complete

I will be placing the stop above the IL with targets as shown on chart. Happy Trading!
Trade active
Comment: Nice drop off the bat. Taking profit now would lock in a 2:1 R/R
Comment:
snapshot
Comment: Moving Stop to B/E. If Price touches entry level, I will wait for another impulse and sell, at which point I will update. Stay Tuned

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Comment: I want to disclose that I've exited this trade at break-even. The trade remains valid, but I wasn't happy with the price action so I have not yet re-entered. Those who are still in are up about 44 Pips
Comment: +54 Pips so far, about 60% of the way to T1:
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Trade closed: target reached: Recommend taking profit here! After taking a look at oil (inversely correlated with USDCAD), the chances of seeing a pop in USDCAD are too high. +92 pips with a R/R of about 6.7. Cheers!

USDCAD:
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USOIL:
USOIL Wave Count Update: 1H Zoom-In Edition
Trade closed: target reached: Huge gains on this one for those who took the trade. +230 pips so far with T3 achieved. Looking for T4 at missed weekly pivot:

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Amazing, 4 profit targets, little risk. Amazing, GlenMercer. Thanks for sharing your idea! :)
+1 Reply
glennmercer PRO social_junkie1992
My pleasure SJ
Reply
glen is this trade active?
Reply
Yes, trade is active
Reply
Been watching this one too but the index doesn't look ready to give ground just yet it's holding the weekly and daily Pivots. There's been a lot of chatter on social networks about shorting this or a possible upside breakout difficult one this 50/50.

snapshot
Reply
Cheers, thanks for the chart
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PERFECT!

uc hit every target profit!!!
Reply
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