Short

USDCAD - D - SHORT

Updated

First try to publish one of my ideas, please don't follow my recommandation :)

Based partly on TDI for USDCAD pair on daily timeframe, we have :

- Fast RSI crossing Slow RSI
- Overbought
- Fast correction happening

I aim for a pullback for 7 daily bars maximum with 200 pips max TP.
SL should be above latest green bar.
Entry, SL and TP on chart.

Comment

Thanks to my habit to round up number, my SL wasn't triggered.
Daily update still on track with the original idea.

However, 4H TF show some bullish strenght left.

Let's see how it settles.

Comment

Nothing noticeable, back to square one.
I'll look at PA on 4H and daily when we meet the yellow average line.

Comment

This is not really going as expected... I will probably close the trade b/E if we get there.

Comment

This trade is definitely not looking good.

On monthly and weekly we have a clear break to the upside. Daily is showing some form of light correction. So I would suggest to close this trade at BE if we get there.
Our hope could come from a form of SL hunting that should occur before taking off again. We could get a 1.359 at best IMO.

Comment

I was way too optimistic with this trade, even if we are seeing the consolidation I expected this WE. So I'm putting SLbe, not a large room for this trade to breath and plan to exit below 1.36, if we get there.
We are already touching the lower band of the PAC.

Trade closed manually

TDI could consolidate a few days around 1.36. So I closed this trade with only 50 pips profits.

Bastosai

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.