USD/CAD

Still in it. Just got lucky. Thankfully I didn't pick a different pair. My stop is 70p.

Gotta love how difficult the market makes it for a pair to move against a larger time frame trend lol

Out of USD shorts for today. Good , volatile, trending day.

An hour or two after my post the market gave us a good example of what I meant by "short any big bull bars at the close" - we had just this kind of bar form, and I shorted its close. These are often good entries in strong trends. Ways to jump on the trend bandwagon just before it runs away again

I will add to my shorts at or just above the overnight highs, assuming that price will keep doing what it's been doing, i.e. move down.

The chart is a 30min chart.

Got stopped out for small loss as the break out of the channel has been too strong. Price might want to drive back up to the highs on the dailies.

At this point, I would have to see a break of the lows at 1.2376 to reenter short. Interesting, the big weakness of the commodity currencies.

If the highs of yesterday are broken, that would IMO be a high probability long entry. With a SL probably just below the lows of yesterday, and a potential reward at least 2X risk, probably more

aggressive traders could enter long here, with a SL just below the lows of this whole move, aiming for a second leg up to (or above) yesterday's highs. This would also be a way to enter early on into a potential major upswing on the dailies.

I do not think that now is the time go long. Сompare the cumulative volume on up&down swings. I would prefer to be on the strong side.

P&F: triple bottom breakout - strong sell signal

wav finish 5 and abc or further wave 4 - expanding triangle

possible support now. Short again if 1.245x

i don't dare trading it yet

hit 1.2317 - the -1/4 of weekly range. It opens the way down to -1/2 (1.2268) however, it requires correction

upswing begins, someone gaining volume

Well we saw the downside break and so entered short again. 1st TP hit. S/Loss now at B/E, at the entry price.

close the trade too early

I always take partial profits when I got at least 1x risk, in most cases 2x risk. It keeps me sane!

I am new in trading
I have 3 questions concerning USD/CAD:
would it go any soon to 1.2180?
any soon pull back to 1.2380?
where would it go first? 1.2180? or 1.2380

Thanks

IMHO, the USDCAD can test 1.2170; though, it seems a pullback point before it could extend the declines towards sub-1.2000 region