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: 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

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:
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!


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:


uc hit every target profit!!!
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.

Cheers, thanks for the chart
glen is this trade active?
Yes, trade is active
Amazing, 4 profit targets, little risk. Amazing, GlenMercer. Thanks for sharing your idea! :)
+1 Reply
glennmercer social_junkie1992
My pleasure SJ
EN English
EN English (UK)
EN English (IN)
DE Deutsch
FR Français
ES Español
IT Italiano
PL Polski
SV Svenska
TR Türkçe
RU Русский
PT Português
ID Bahasa Indonesia
MS Bahasa Melayu
TH ภาษาไทย
VI Tiếng Việt
JA 日本語
KO 한국어
ZH 简体中文
ZH 繁體中文
AR العربية
Home Stock Screener Forex Signal Finder Cryptocurrency Signal Finder Economic Calendar How It Works Chart Features House Rules Moderators Website & Broker Solutions Widgets Stock Charting Library Feature Request Blog & News FAQ Help & Wiki Twitter
Profile Profile Settings Account and Billing My Support Tickets Contact Support Ideas Published Followers Following Private Messages Chat Sign Out