USDCAD might turn around soon.
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- #9,142
- Jan 22, 2016 2:20am Jan 22, 2016 2:20am
- Joined Jun 2011 | Status: Swing trader using Market Cycles | 2,152 Posts
Correction take place, opportunity to short but more risky than usual. Personally I will not take this trade but it carry good potential for breakout, ideal for scalp :
Money moves the market, not an indicator.
- #9,143
- Jan 22, 2016 3:04am Jan 22, 2016 3:04am
- Joined Jun 2011 | Status: Swing trader using Market Cycles | 2,152 Posts
Correction take place, opportunity to short but more risky than usual. Personally I will not take this trade but it carry good potential for breakout, ideal for scalp : {image}
Money moves the market, not an indicator.
- #9,144
- Jan 22, 2016 3:16am Jan 22, 2016 3:16am
- Joined Jun 2011 | Status: Swing trader using Market Cycles | 2,152 Posts
{quote} Update for scalpers: risk need reduction with 50% , potential takeprofit level below : {image}
Money moves the market, not an indicator.
- #9,145
- Jan 22, 2016 3:18am Jan 22, 2016 3:18am
- Joined Jun 2011 | Status: Swing trader using Market Cycles | 2,152 Posts
{quote} Update : SL @ breakeven for 0% risk . You should do something at profit taking : {image}
Money moves the market, not an indicator.
- #9,146
- Jan 22, 2016 3:22am Jan 22, 2016 3:22am
- Joined Jun 2011 | Status: Swing trader using Market Cycles | 2,152 Posts
{quote} Update : new SL adjusted : {image}
Money moves the market, not an indicator.
- #9,147
- Jan 22, 2016 3:30am Jan 22, 2016 3:30am
- Joined Jun 2011 | Status: Swing trader using Market Cycles | 2,152 Posts
{quote} Update : New SL adjusted : {image}
Money moves the market, not an indicator.
- #9,150
- Jan 22, 2016 4:49am Jan 22, 2016 4:49am
- | Additional Username | Joined Dec 2015 | 3,529 Posts
USD/CAD trading recommendations for January 22, 2016
Trading recommendations:
As we expected, a valid sell entry was offered around 1.4650 (141.4% Fibonacci expansion). It is already running in profits now. S/L should be located above 1.4700.
Next T/P levels should be located at 1.4280 and 1.4150.
On the other hand, conservative traders should wait for a bearish engulfing candlestick closure below the level of 1.4100 (Fibonacci Expansion 100%) to sell the USD/CAD pair. S/L should be located above 1.4150.
Trading recommendations:
As we expected, a valid sell entry was offered around 1.4650 (141.4% Fibonacci expansion). It is already running in profits now. S/L should be located above 1.4700.
Next T/P levels should be located at 1.4280 and 1.4150.
On the other hand, conservative traders should wait for a bearish engulfing candlestick closure below the level of 1.4100 (Fibonacci Expansion 100%) to sell the USD/CAD pair. S/L should be located above 1.4150.
