Trading Ideas
Sat, 21 Jul 2018 18:31:53 -0500
Here you go traders, the reason as to why the USDCAD loss happened and what we can learn from it! *IMPORTANT TIP* Never look at your losses as actual losses they are only paid lessons by the market, you can either take it as that and learn from them and take different action next time or just continue to lose without learning! Be humble in your losses because nobody is perfect and all we need to do in this market is just play the whole game out not just 1 quarter! Stay blessed traders and creators and I will be seeing you all very soon!
USDCAD Weekly analysis 23 July Onward
Sat, 21 Jul 2018 14:37:30 -0500
Last week we saw the USDCAD pair hit our first target and went up more for us to bag few more pips before rallying down after the speech from USA President. This week, if we get a price testing 1.3218 price zone, we can have a good opportunity to enter short with our first target set at 1.3066 price zone. If the price breaks our first target, we will look at our next target at 1.2888 price zone. Do consider both the highlighted scenarios.
2018Jul22 USDCAD H4 Possible Bearish Gartley
Sat, 21 Jul 2018 12:09:18 -0500
USDCAD has been on a recent uptrend. There is a possible bearish Gartley. Upon D completion at 1.33172 (78.6 of XA) and confirmation of the bearish bias, I will go short. Take profit targets are set at the 38.2 and 61.8 Fibonacci retracement levels of leg AD and point A. The stop loss has the same number of pips as TP1 by default. Tentative details are as follows: Trade Setup: Possible Bearish Gartley Price Entry 1.33172 SL 1.34138 | SL pips 96.6 TP1 1.32206 | TP1 pips 96.6 TP2 1.31608 | TP2 pips 156.4 TP3 1.30642 | TP3 pips 253.0 RRR1 1.00 | RRR2 1.62 | RRR3 2.62
Sat, 21 Jul 2018 11:27:41 -0500
Sat, 21 Jul 2018 09:12:21 -0500
USDCAD Short from 1.320
Sat, 21 Jul 2018 06:05:12 -0500
USD weakness (as seen in DXY bearish candle) and recover of commodities bloc suggest this pair to be trading back into the descending channel from 2016
Sat, 21 Jul 2018 02:49:54 -0500
Retest of the trendline. USD Index also showing a weakness of the $$$$ this upcoming week.
Fri, 20 Jul 2018 23:27:50 -0500
Double Top On QP, Bearish engulfing
Fri, 20 Jul 2018 20:19:11 -0500
Wait for a break and close below the neckline. Move stop loss to breakeven when we hit the lower trendline and depending on the price action considering closing half of the trade.
USDCAD Possible Short idea
Fri, 20 Jul 2018 18:12:44 -0500
Just in-case it does breaks down...
5th wave remaining on USD/CAD ?
Fri, 20 Jul 2018 17:55:46 -0500
I don't believe price is going to break down just yet. EW count key: Purple with (circled numbers) - 1st degree wave Green - 2nd Degree wave Black - 3rd Degree wave Blue - 4th Degree Wave Red - 5th Degree My Elliot Wave count says a small 5th wave in the Red 5th degree remaining, however I am not convinced. It appears to be forming a truncated 5th wave but that is not possible as the 4th (Blue) and 3rd (Black) have to be in their 5th wave as well to form a truncated 5th wave... (as far as I remember). My EW count is not reliable so I'm going to discount it. RSI shows 2 things. 1 - Not oversold yet on 1D chart. 2 - Hidden Bullish divergence (see red verticals lines and red arrows on RSI). Price forms higher lows, but RSI forms lower lows indicating further upside to come. Price had a false break out of channel resistance, but came back inside, then tested trend line as resistance again. Possible ascending wedge pattern in play.
Fri, 20 Jul 2018 17:00:37 -0500
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