I am shorting USDCAD (actually long CAD contract) based on longer term view of CAD, the .618 retracement of the drop friend the trendline, the completion of the AB=CD pattern (which went about 1 pip past stop loss, but where one could look to short at the 2.618 extension as well. There is also a cluster of fibs from different points in this range right here. Safer stops are above the 1.316 which I will consider depending on the price action at the time. Trade is already active and I would consider adding at 1.3127.
I will be watching the price at the 2 targets of the AB=CD pattern as well as the Bat completion points to decide whether to close my CAD longs and switch to short to trade the bat patter, close the position all together or stay in the trade.
I will be watching the price at the 2 targets of the AB=CD pattern as well as the Bat completion points to decide whether to close my CAD longs and switch to short to trade the bat patter, close the position all together or stay in the trade.
Nota
I have moved my stop losses to breakeven (.76275 and .7623 /6cH7). The next levels I am watching on USD/CAD are 1.30875, 1.3067, and then the two entry points to the bullish bat patterns at 1.3030 and 1.3009. I will update my thoughts around that time, should it come.
Nota
Came 1 pip away from the AB=CD TP2 @ 1..30875, and there has been a pretty small bounce. It looks as if yet another AB=CD pattern may complete, within the original entry zone.
Nota
Will get out of my positions at 1.30705 and am considering reversing there
Nota
I am currently flat in USDCAD, looking to enter short if I am given the opportunity at 1.3116
Nota
Both targets of the Bearish Gartley above were hit
Nota
Will enter the trade shown in the update if the price returns that high and doesn't form another valid pattern before then
Dagangan aktif
Nota
Target 1 hit. Stops are moved to breakeven
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.