Short

USDCAD Short. RR 1:21

Updated

Elliot Wave theory in play. Corrective Wave to point C

Short Position TP1-1.3655 , TP2-1.3570, TP3-1.3510 ; SL above previous high.

Risk Reward 1:21

Note

TP 1 - 1.3655 Hitted after Oil Inventory report.

Sharp reversal after NZD cash rate, looking for further SHORT at 1.3750~60 area.

Always remember your stop-loss, market is crazy & cunning*

Trade active

Entered one more position via a SELL LIMIT @ 1.3760 on yesterday spike.

Daily candle closed with strong rejection above, looking for further downside at 1.3640 area.

Trade active

SELL position still holding, be patient.

Note

Profit taking again at 1.3640 area as Oil price tanking up.

Next target 1.3610. Happy Pippings for those who followed !

Trade closed: target reached

1.3610 hit ! Currently closed most of my position, waiting retracement and re-enter later.

Note

Looking for a SELL entry around 1.3640-50 area.

TP around 50.0% fibs level. Good luck

Trade active

Entered my SELL limit @ 1.3665, expecting another retest at 1.3600 area.

Last pair to focus for this week.

Trade closed manually

For those who followed, I closed all my trades at 1.3560 area with 100pips+ banked, zero trades holding over weekend. Happy Friday guys

Note

Corrective wave to point C has completed as per analysis!

#PowerOfElliotWaveTheory

douglasswg

Also on:

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.