So I have entered shorts on USDCAD and we are starting to show nice rejection from this area. Stops will be moved just before USD CPI later.
USDCAD starting to creep towards the area I'm looking at taking shorts from. We have already seen price slow down on the lower time frames I'm just waiting now for a nice formation within this zone to jump on sell trades.
let's breakdown USDCAD , last day of the week chance on USDCAD.
Not really much happening on USDCAD, we are now just seeing price make a retracement like I expected, then ill be watching for hopefully the next short wave down.
Closed my USDCAD trade for now and looking for a bit of a pull back to the upside where I may be looking for further shorts again. Ill update later in the week if I have entry areas
Now that price has reached first minor target area I think from this support we may see another push back up to make another failed spike up or a retracement to follow the possible new downtrend. If we see this retracement move I may look at adding further short trades.
Seeing a bit of early movement in usdcad early this monday so i have entered shorts to atlest take out that little spike down it made on friday to around 1.27400, stops will be moved just before this level is reached
Waiting for more confirmation but still holding that short bias, been a bullish trending market at the moment it can get hard to catch these short trades but once your in you have huge downside and profit potential. So ill just be watching this one at the start of the week unless we get some bigger moves.
I'm still holding the bias of seeing a further push down but now its just getting into the best entry point, after been stopped at breakeven from last night ill be watching for entry's again today! Price usually gives you more then one opportunity and we still haven't broken upside trend structure so I defiantly wouldn't look at taken shorts from current price, be...
Moving stops to entry point if we can get a quick move down, only risking 0.5% as its a risk area and price is wild at the moment.
Just a quick update on USDCAD as I'm waiting for price to show better moves I thought id share what I'm looking for.
Will 1.28000 be the resistance that gives the much needed pullback on USDCAD? Ill just be monitoring price at the start of the week and hopefully price can shape nicely for either a bigger retracement or even possible reversal.
So hopefully some of you guys may be in this trade, as expected price is pushing down and looking like we may see a deeper pull back to go with the overall uptrend or possibly making a reversal for some further downside. Even though I'm not in the trade I will update later in the week.
Hoping to see another much needed deeper pull back or possible trend change on USDCAD, I've just entered and like I said moving stops to entry point as soon as a few pips in profit as I'm not forgetting the overall 4hr uptrend!
Firstly I apologies for my voice I'm currently trying not to lose it LOL, anyway I've still got my short trade open but moving stops to breakeven, we seen price get a bit choppy Friday and I do expect weakness from the dollar... so a sell off or push down on USDCAD I feel is coming, the hard part is getting the best position with the lest risk. Ill monitor price...
So I've just taken short trades on USDCAD and hoping to see a quick move down where ill be moving my stop loss to entry point and hopefully catching a nice risk free short to finish the week on USDCAD.
Looking at catching the pullback move back down to atlest 1.25400, we are still in an overall 4 hr uptrend so make sure if you do enter and go into profit, move those stop losses to breakeven pretty quickly.
Starting to creep near the area I'm looking at buy trades from so will be watching over the next couple days to see if a long trade can present its self!