What Loonie(USDCAD) is offering us!! Long

U.S. Dollar/Canadian DollarFXCM

Description

⋅ May 3, 2015 6:52 PM

Details are on the chart. I mentioned 5 reasons that why the 1.193ish area is a strong support in my view. The weekly candle is a nice pinbar which rejects the 1.193 area. I will look for retracement on a weekly pinbar candle. Mostly pinbar gives you 38.2% to 61.8% retrace and then buyers get in (that's just my view, I may be wrong). Need to watch the PA on LTFs for a better low risk entry. I will attach the weekly chart below in the comments to show the pinbar.

Thanks for your time, I would love to hear your opinion, feel free to comment and if you like the idea then hit the thumbs up button.
Cheers.

Comments

Sam.Distraction

⋅ Jun 2, 2015 6:11 PM

Forgot to update the Loonie Short idea in this thread. Apologies

Cityfox

⋅ Jun 2, 2015 6:17 PM

I always find your charts so helpful I wish you would publish more...go go double Pro

Sam.Distraction

⋅ Jun 2, 2015 6:23 PM

Thanks and glad to help. BTW what is double Pro. :)

Cityfox

⋅ Jun 2, 2015 6:29 PM

Double pro means you're at the top of your game, I hope one day I was good as you...go go 3x Pro. I don't know what 3x Pro is.

Sam.Distraction

⋅ Jun 2, 2015 8:30 PM

Thanks a lot bud, I try to learn everyday and still learning. You will become 4x Pro one day. :) BTW Is 3x Pro is some kind of leverage for the Pro? . :)

Tony1200

⋅ May 31, 2015 6:05 PM

Great call!!! Keep on pipin!!!

Sam.Distraction

⋅ May 31, 2015 6:56 PM

Thanks mate, After 20 days it reached the target :)

jangseohee

⋅ May 18, 2015 4:41 PM

Sam you are a sharp shooter!! well done

Sam.Distraction

⋅ May 18, 2015 5:28 PM

Thanks for your chart and the compliment :)

Sam.Distraction

⋅ May 18, 2015 5:32 PM

The last two weekly candles are inside bars so we might see some strong resistance around 1.22 area, Break and close above this area will be really bullish.