Sales range: 1.3300
Targets: 1.3258- 1.3216- 1.3174
Stop loss The first goal: the profit to loss ratio is 1: 1 (1.3342)
If the first target is touched (close one third of trades)
Stop Losses Second and Third Objectives: 1.3300(Entry Range)
, If the second target is touched (close another third of trades)
And if the third target is touched (close the deal)
The price tries to push breakthrough resistance. But it failed
Sellers come to break the trendline
My expectation: price back to continues sideways, down to 1.40 support area
Good luck guys
If you can't see the LH's being made use the line chart with a clean chart no indicators
Also to add more to what is going on with the dollar
Today A LOT of people didn't pay their bills because they are without a job,
The economy is going to fall to restart the chaos covid 19 has created.
Sell Sell Sell
Fear in the Market
The Loonie is lagging behind, it is time to join the US Dollar sell-off. Not to mention Saudi ARAMCO pending IPO and planned oil production cuts in OPEC countries.
Trade duration 5-6 days. Set SL to break-even if 25pips profit is hit.
EXPLAINATION:
Price is at the bottom of the Channel, there is a good chance for price to spike for another top.
However, for long term analysis, references from COT Data and Interest rate decision remain price for the downside.
There are 2 scenarios to execute this trade:
1. Price falls from point A to the downside
(Watch out for the bottom)
2. Price can spike...
we can get a short trade when the price
rise up to short levels 1.35880 -1.36230
targets and stop lose on chart >
This is not an investment recommendation or any call to buy or sell
It is just an analysis based on a study of the history of price action
Behavior , that may not be a necessarily reason for the success of
the structure or repetition. So please...
I reopened sell order on price 1.3329
SL at 1.3360
TP at 1.3120
RRR = 6.28
Lets try to catch good sell reversal movement
Again i am afraid to place this order because it will be placed against big buy impulse. But main movement USDCAD is down.
Open sell order at price 1.3306
SL - 1.3329
TP - 1.3130
RRR - 7.67
I am afraid that i take SL on continue BUY impulse. But impulse was only 24 hours and main trend is down. So lets think that it was only fast big correction and down movement is continue.
My Friends,
USD\CAD Just confirmed A downtrend Change on daily\hr4 Candle, I will wait for the levels I mentioned and enter short,
just as I mention on all the chart take as much profit as you can and re enter with good stop loss, as of me I trade with higher lot\quantity I always take profits fast and wait for new opportunity,
Good Luck.
*Trade at your own Risk.
