Good morning all,
I just wanted to share the TC trade I made on the USD/CAD last night. The canadian dollar has been gaining strength for a few weeks now and last week we had another lower low and so switching to the 4H price retraced back to the 8 and 21ema where I waited for a TC which occured and I entered short @ 1.02853 with profit target of 1.02100 just shy of the 4th line on the fibo as Welshguy talks about in his videos. I have since moved my stop loss to break even after taking some off the table and now we will wait and see what happens. with oil prices rising I believe we might see a retest of parity with the canadian dollar against the greenback.
Also the Eur has retraced back to the 8ema and we might have a TC in the making breaking that bottom trend line...as most of you are anticipating and as we have been discussing in the last few posts, for price to finish the last wave of the down movement.
I just wanted to share the TC trade I made on the USD/CAD last night. The canadian dollar has been gaining strength for a few weeks now and last week we had another lower low and so switching to the 4H price retraced back to the 8 and 21ema where I waited for a TC which occured and I entered short @ 1.02853 with profit target of 1.02100 just shy of the 4th line on the fibo as Welshguy talks about in his videos. I have since moved my stop loss to break even after taking some off the table and now we will wait and see what happens. with oil prices rising I believe we might see a retest of parity with the canadian dollar against the greenback.
Also the Eur has retraced back to the 8ema and we might have a TC in the making breaking that bottom trend line...as most of you are anticipating and as we have been discussing in the last few posts, for price to finish the last wave of the down movement.
Keeping Life Simple