Fxprotrader
Short

USDCAD: Median Line, Double Top & RSI Show Sell

FX:USDCAD   U.S. Dollar/Canadian Dollar
2506 24 74
In my previous post on USDCAD             i described a potential short, but based on the result i posted a little early. Now i will once again watch for a sell setup at level where price tests the median line of an upslope pitchfork . At that level we have a double top formation while RSI is overbought and a bearish divergnece is present.

Like and follow for updates..!
Trade active:
snapshot
Comment: With current profit at slighty more than 1:1 risk/reward ratio we should move stoploss at breakeven for a risk free trade setup
Comment: Trade stopped at breakeven..
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div, in 1h, waiting for this candle to short
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Thanks for sharing
+1 Reply
TAJIR_B Fxprotrader
thanks

(just for info: all ichi components are long, so caution is needed )
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Thank you
+1 Reply
is it conformed so i can sell now ??
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Fxprotrader AliQaiser
You should wait for a sell setup to complete first based on your strategy.. If you already have one completed, yes you may sell.. Good luck..!
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AliQaiser Fxprotrader
i have no stratgey i dont know how to make .. i want to learn
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Fxprotrader AliQaiser
Well, i believe is very risky trading the markets with no strategy.. A startegy (setup) has rules on when to enter, where to place your stoploss, where to place your tp etc. take your time and study about setups and come back for more analysis.. I hope that helps..! :)
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Im watching this too
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Fxprotrader PriceActionPmlani
Great to know mate :)
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Where do you put your stops? B/c of the double top, there is no structure to go off of besides maybe basing it off of risk/reward.
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Rsi, MACD, STOCH have crossed downward plus the Ichimoku is showing signs of bearish trend, What do you think about that? :)
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Fxprotrader ubersorg
I don't use ichimoku, stoch.. I use median line analysis, and wave analysis. Plus RSI only for divergences and overbought & oversold conditions. I think price will reach at least the parallel of the median line
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Thanks for sharing!
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Fxprotrader sftrading
You are welcome :)
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Bull not bear -(
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Oki doki, im IN ... short !
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Comment removed
Dguaman santoroma
wow, are you talking serious?
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Don't open a new topic with him mate.. You will lose your time :)
+1 Reply
snapshot
trendline break
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Fxprotrader YoussefRazak
Great.. Thanks for sharing :)
+1 Reply
YoussefRazak Fxprotrader
My pleasure ...
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Can we re-enter or this trade is closed
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margaux Dguaman
Is this a SELL USD/CAD for today? 24 Oct '16?
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