Akil_Stokes
Long

USDCAD: Almost Everything In A Single Chart

FX:USDCAD   U.S. Dollar / Canadian Dollar
*Here's The Link To The Video Explanation of This Trade https://www.youtube.com/watch?v=2QwQFFm5bTY&feature=youtu.be

Rather than write out a lengthy explanation for this trade, I decided to include a video break down in my Weekend Review video which will be out on YouTube tonight. The video typically takes a good amount of time to produce and upload so I decided to share this chart before it's completion.

Analysis was performed on the 240m with the reason for entry occurring on the lower timeframes. A lot is going on here, but at the end of the day it's simply a price action and structure based trade.

*I'll edit the description box with the video link as soon as it's available.
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Whelp, it was a good try
Reply
damn..lost
+1 Reply
Akil_Stokes OlegPeshkoff
yeah I'm out as well. Thank god for that eurjpy this morning
Reply
Great work as usual Akil ! I've been following this pair for few weeks closely now since Jason had a hunch for short at 1.1950 (He couldn't know the BOC would cut the interest rate just like that).

I must say that I find it quite difficult to trade this one as it's so intimately linked to the oil prices and that the BOC seems to be ready to do anything it takes to fire up inflation in Canada

It's more of a statement than a question since you've already answered "A lot is going on here, but at the end of the day it's simply a price action and structure based trade. " Beside "harder" teaches more than easier I guess !

Thank you for the chart !
Reply
Akil_Stokes pascalde-aguiar
Thanks, and I agree, Canada and I have always had a rocky relationship. I often wonder how it's managed to stay in my portfolio. But yeah anything goes with the BOC
Reply
Here's the link to the accompanying video https://www.youtube.com/watch?v=2QwQFFm5bTY&feature=youtu.be
+1 Reply
DanLaffas Akil_Stokes
Great video. Thanks man!
+1 Reply
Brilliant!
+1 Reply
Akil_Stokes TradeYodha
Thanks you. It's just all the simple stuff with fancy bright colors
Reply
TradeYodha Akil_Stokes
yes very simple yet powerful. So much to learn from this single chart itself
+1 Reply
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