FX:USDCAD   Dolar U.S/Dolar Kanada
Dilihat 94 kali
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Bearish Butterfly pattern - short at 1.30300 - (sorry D point is out of screenshot at 1.30300)

Here we are ...point D now clear.......
Dagangan aktif

Butterfly has gone to the 1.618 extension ....thats the problem with the butterfly...can be either 1.272 ext or stop is over covers this possibility.....

Looks like the bearish butterfly did its job, although unusual to see price go higher straight after...its just held nicely at 1.30350 .618 looking good so far

Take profit option is around 28.25......however , I will be watching oil.....if its bullish and goes on a 5th wave unto 55-60 area...then I will be targeting 1.25 (double bottom)

Ive exited the trade, very small loss incurred, the butterfly was on a short timeframe and did reverse price to 1.30.( but its affects have worn off) ......price now looks too bullish and in a channel it wants too retest the top for a 3rd time, RSI no longer convincing, I will continue to monitor this alongside DXY.....I will look at price action and RSI around the 0.618 retracement level. and short on a oil breakout upwards is due in the next 2-3 days and USDCAD will fall.

Im loving the butterfly today !!!

USDCAD now looks to be headed for 1.315 as this is end of the AB=CD impulse @ 1.618 ext and also .786...fib..(the butterfly fib) I will be shorting at 1.315......this could be the road to the 1.34 area ...see my previous post on USDCAD...either way its very likely a reversal at this level....

5 wave and ABC correction....shame I will be in bed and miss this!!!

oops,, here is the chart

Butterfly top pattern looks likely due to the 0.786 short at D ...TP 1.3065........

Heres the right chart!!!

allow stop loss to butterfly could extend to 1.618 extension and finish around 1.3110
Komen: should have read SL @ 1.3118

Nice !

This is still a topping formation..the 5 wave sequence confirms this....just adjusted stop loss a little to allow for a longer spike...longer ABC correction with this pattern :0)))

Another butterfly...if you aren't in...another short opportunity.....1.33108
Komen: correction......1.3108
Komen: lets get it right... 1.31308.......there
Dagangan aktif:

Just completed shorted at 1.3132.....SL is over 1.35......reason is because 1.35 is the next fib line of resistance....

1.3474...this is a reversal level ...0786 fib....I think price will finallyt urn down is the 1.295 resistance area.....
Komen: numbers are confusing...its 1.31474
Dagangan ditutup: sasaran tercapai: Ive taken profit on two of the shorts at 1.30005

Ive opened a small long position with TP of 1.3105

I will let my other short run for now...
Dagangan ditutup: hentian tercapai: my long was Stopped out. (small amount) was a bit risky I was going against trend and had too tight a stop....

I made a lot on the short so not too fussed...

It may have bottomed at 1.30....but I wont be buying again unless we are around 1.295 should bounce off one of these prices up to 1.309...1.3105....I will be shorting in that area....
Dagangan ditutup secara manual: TAKEN PROFIT ON SHORT FROM 1.313
Dagangan aktif: Gone long at 1.2955
SL 1.2935
TP 1.306 - 1.31 price action
Dagangan ditutup: hentian tercapai: Another valuable lesson learned......rushed in a bit too early on this one...
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