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.
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.
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...
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.
Here on USDCAD Ill be looking for a short position if price can reject the top of this consolidation range I've drawn on and then look at taking out 1.23000 again where ill then be looking at possible buy trades.
Hoping to see price continue to the downside from around current area. Would have liked price to make more of a corrective move but I'm expecting weaker USD so hopefully we can just move from here. Remember always manage risk and never let you emotions dictate your decision making!
Hello guys in this video i show why i see a short in cad fro the next few days and a long term long bias. My bias shaped by the fact that i see along in oil and since oi and cad are correlated i see short term weakness in usd and strength in cad. I see weakness in usd since the Dow has been weakening showing that investors are putting their money in safe havens...
Hey Trayders,
Just a quick update on the trade taken last Friday. We printed a new Support line from yesterday's price action and are being patient for a new, lower resistance line further down in price. I am personally following the strategy loosely in this test because I believe we will move down to trendstart (seen on the original leg down from last January)...
