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USD/CAD

  • #16,121
  • May 20, 2021 9:24am May 20, 2021 9:24am
Quoting Inthebox
{quote} better not to predict. just react when price is at key levels, eg. like 17may high. now watch the 18may high.
Today alone took out mon high n tue high. Usd is as cheap as toilet paper. Should do a new toilet roll brand "the greenback 3 ply toilet roll" - breaks down all shit support n cleans the butt well.
  • #16,122
  • May 20, 2021 10:16am May 20, 2021 10:16am
Quoting alivepool
{quote} Today alone took out mon high n tue high. Usd is as cheap as toilet paper. Should do a new toilet roll brand "the greenback 3 ply toilet roll" - breaks down all shit support n cleans the butt well.
Every pullback up is a chance to short the greenback toilet roll.
Fed is a bunch of idiots who made greenback into toilet roll.
  • #16,123
  • May 20, 2021 11:43am May 20, 2021 11:43am
Quoting alivepool
{quote} Every pullback up is a chance to short the greenback toilet roll. Fed is a bunch of idiots who made greenback into toilet roll.
venting frustrations does not improve your trading.
instead better invest time and effort in reading the chart.
analyze the higher time frame chart.
here's the h4.

1. we know the main trend is down.
2. we know the last impulse wave was down.
3. price was on corrective wave.
4. the structure is still intact. the beginning of impulse wave down was not broken.
5. confluence of 17may high with 61.8 fib drawn from last week high to this week low.
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ITB - Seeing Orderliness amongst 'Randomness'
  • #16,124
  • May 20, 2021 1:18pm May 20, 2021 1:18pm
Quoting Inthebox
{quote} venting frustrations does not improve your trading. instead better invest time and effort in reading the chart. analyze the higher time frame chart. here's the h4. 1. we know the main trend is down. 2. we know the last impulse wave was down. 3. price was on corrective wave. 4. the structure is still intact. the beginning of impulse wave down was not broken. 5. confluence of 17may high with 61.8 fib drawn from last week high to this week low. {image}
So u opened a short already or waiting more confirmation?
  • #16,125
  • May 20, 2021 2:40pm May 20, 2021 2:40pm
Fibonacci shows the way
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  • #16,126
  • May 20, 2021 2:41pm May 20, 2021 2:41pm
Quoting Inthebox
{quote} venting frustrations does not improve your trading. instead better invest time and effort in reading the chart. analyze the higher time frame chart. here's the h4. 1. we know the main trend is down. 2. we know the last impulse wave was down. 3. price was on corrective wave. 4. the structure is still intact. the beginning of impulse wave down was not broken. 5. confluence of 17may high with 61.8 fib drawn from last week high to this week low. {image}
My advisor do the same
  • #16,127
  • May 20, 2021 8:57pm May 20, 2021 8:57pm
Quoting helioss
Fibonacci shows the way {image}
So u started your short on uc?
  • #16,128
  • May 20, 2021 9:16pm May 20, 2021 9:16pm
Attached Image (click to enlarge)
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long for now watch eur usd
  • #16,129
  • May 20, 2021 9:56pm May 20, 2021 9:56pm
Quoting Inthebox
{quote} venting frustrations does not improve your trading. instead better invest time and effort in reading the chart. analyze the higher time frame chart. here's the h4. 1. we know the main trend is down. 2. we know the last impulse wave was down. 3. price was on corrective wave. 4. the structure is still intact. the beginning of impulse wave down was not broken. 5. confluence of 17may high with 61.8 fib drawn from last week high to this week low. {image}
Weekly oversold with long wicks.

Daily bullish divergence.

Inverse head and shoulders forming on 4H.

Just to give a little bullish bias to your analysis.
A 1 pip gain is better than a 1 pip loss.
  • #16,130
  • May 20, 2021 10:15pm May 20, 2021 10:15pm
Quoting aeternum
{quote} Weekly oversold with long wicks. Daily bullish divergence. Inverse head and shoulders forming on 4H. Just to give a little bullish bias to your analysis.
my view at the moment.
last week doji. will depend on today cad retail sales and usd pmi to see how this week candle will be like.
latest is a daily bearish hidden divergence, which means a trend continuation.
as of now price is testing support turned resistance.
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ITB - Seeing Orderliness amongst 'Randomness'
  • #16,131
  • May 20, 2021 10:27pm May 20, 2021 10:27pm
Quoting alivepool
{quote} So u started your short on uc?
i had 3 shorts.
2 of which previously i had below 18may high which i suffered dd of less than 5% equity (instead of 50% - control lot size to have more relax trading).
the other one around 61.8 fib.
will see how they turn out after today news maybe.
ITB - Seeing Orderliness amongst 'Randomness'
  • #16,132
  • May 21, 2021 12:37am May 21, 2021 12:37am
Quoting Inthebox
{quote} my view at the moment. last week doji. will depend on today cad retail sales and usd pmi to see how this week candle will be like. latest is a daily bearish hidden divergence, which means a trend continuation. as of now price is testing support turned resistance. {image}
Okay, I do see that daily bearish divergence as well but at the same time its also a bullish divergence.

I guess price is just confused. But 4H is setting up inverse H&S pretty decently.

Perhaps if we see a break of that downwards trendline it would signal some bullish momentum.

Edit - just pulled that line longer and saw it coincides with the previous move as well.
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A 1 pip gain is better than a 1 pip loss.
  • #16,133
  • May 21, 2021 3:31am May 21, 2021 3:31am
Quoting Inthebox
{quote} i had 3 shorts. 2 of which previously i had below 18may high which i suffered dd of less than 5% equity (instead of 50% - control lot size to have more relax trading). the other one around 61.8 fib. will see how they turn out after today news maybe.
I m shorted at 1.209. SL 1.2105, TP 1.20.. small risk for big gain
  • #16,134
  • May 21, 2021 4:04am May 21, 2021 4:04am
Quoting alivepool
{quote} I m shorted at 1.209. SL 1.2105, TP 1.20.. small risk for big gain
Moved SL to BE. Easy green pips. Just short usd as long as i live. It is no longer the global reserve currency, period
  • #16,135
  • May 21, 2021 5:02am May 21, 2021 5:02am
Quoting alivepool
{quote} So u started your short on uc?
Trade closed as Advisor says
  • #16,136
  • May 21, 2021 5:56am May 21, 2021 5:56am
Quoting helioss
{quote} Trade closed as Advisor says
What advisor u using?
  • #16,137
  • May 21, 2021 6:02am May 21, 2021 6:02am
Actually some fed members start to hint on tapering but market interpret fed as "talk about talking abt tapering"..in short is dismiss fed as farting, lol. When boc talk abt tapering, mkt take boc seriously. See the comtrast?
  • #16,138
  • May 21, 2021 6:19am May 21, 2021 6:19am
Quoting Inthebox
sold 1.20486
Quoting Inthebox
sweet spot. at resistance and trend line.
done. waiting for show time.
if follow trend, still got chance to recover.
Attached Image (click to enlarge)
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ITB - Seeing Orderliness amongst 'Randomness'
  • #16,139
  • May 21, 2021 6:21am May 21, 2021 6:21am
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DAILY_RESISTANCE_3 CONTACTS_150520_1700Z.
DAILY_SUPPORT_3 CONTACTS_091020_1300Z
  • #16,140
  • May 21, 2021 8:29am May 21, 2021 8:29am
Quoting alivepool
{quote} What advisor u using?
If u use Fibonacci approach to trading is a very useful tool: https://www.forexfactory.com/thread/...-auto-detector
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