Short USDCAD at 1.3325
Trading Plan: short USDCAD at 1.3325, stop loss at 1.34, first profit target at 1.318, second profit target at 1.302
Reasons:
1) COT commercial traders have large amount short lots now
2) Dinapoli MACD approaches zero line and will probably cross and go to negative
3) Dinapoli Double Repo has formed
4) 1.3325 is Fibonacci level
5) 1.34 the stop loss is determined by Fibonacci retracement at 4hr (not shown)
6) the potential profit to loss is 1.45, not bad.
Good luck with your trading!
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Results: to be filled
Learning: to be filled
Reasons:
1) COT commercial traders have large amount short lots now
2) Dinapoli MACD approaches zero line and will probably cross and go to negative
3) Dinapoli Double Repo has formed
4) 1.3325 is Fibonacci level
5) 1.34 the stop loss is determined by Fibonacci retracement at 4hr (not shown)
6) the potential profit to loss is 1.45, not bad.
Good luck with your trading!
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Results: to be filled
Learning: to be filled
Note
Results: shorted at 1.33207 with 0.75 lot at FXCM; exited the market when price hit the stop loss at 1.33984 with a total loss of 434.94 USD.Learning: good to follow the trading plan. the direction was wrong. This is caused by the wrong setting of COT CMS index. The bug has been fixed.
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.