MCD1! trade ideas
Discretionary Trading6.4.20 I just got a personal message from a follower who I respect and like. I copied the message but left the follower's name out. Respectfully, this trader plans to be profitable with minimal or no discretion, except for entering a trade, and establishing a risk and reward... and then following through with the trade in robot fashion. This will not work, and it is not realistic in my opinion. Trading is not easy, and most professional mutual funds... actually 90% of mutual funds... cannot match the performance of an index fund that is comparable to their selection of stocks. I thought I would talk about this and then go through some futures contracts on the currencies to discuss simple patterns and lines that I look for.
6C USDCAD setuphere is my 6c CAD Dollar analysis.
after a head & shoulder my analys started in the morning.
My analysis makes us get the 0.72200.
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I am strongly bullish on Canadian Dollar futuresI have opened long positions on the Canadian Dollar Futures and I believe the price will rise to the top of the channel.
CAD big opportunity!Here is my analysis on the canadian dollar .
A very nice movement to take.
we have the break of the trendline (0.70850) and the pullback.
1st level 0.71860 then direction 0.7330
BE CAREFUL , I love the support trend too, if it's going lower than 0.70375 be careful.
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CAD completed 382 correctionCAD futures has completed a 382 pullback from its impulse wave. Looking at the 4 hour chart now for a long once a more bullish picture emerges
Cad is holding strength The daily chart is showing cad has strength over dollar so I will only long also the one hour chart showed cad gaining strength and crossed over dollar so I will look to long if things go south I will look for a small sl
Cad risingThis is a weekly chart, cad has broken out of downtrend, last time this happened it went up 11% in 3 months. Short USD/CAD.
Selling CADAlgo alerted me of a nice possible bearish set up, im going to take this trade as a hedge against my dollar shorts
Canadian Dollar head and shouldersDecember Canadian Dollar head and shoulders last shoulder developed. Fall below pivot at .75405 may indicate a drop to S2 .74805, minimum height of last shoulder.
Canadian Dollar Futures BullishThe 6C Daily time frame broke the down trend
line and created an up fib extension price point
0.77035 about +279 Ticks away.
Impulsive Waves Construction - Part 3 (02)02)This chart corresponds to the second chart of our educational aticle "Impulsive Waves Construction - Part 3".
