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  • #10,721
  • Oct 14, 2016 3:05pm Oct 14, 2016 3:05pm
Quoting smikester
{quote} Not sure why you are short? What time scale?
Sorry, I just saw this. I took trade on the hourlies, which is the lowest tf I am prepared to trade. But I was trying to enter early on what I viewed and still view as an imminent continuation of the correction that started in January, because I do not think May 2016 was the end of it.

With today's move , the daily charts have also triggered a short based on my approach. But the weekly charts haven't done so yet. They will, if next week we continue moving down and break this week's lows
  • #10,722
  • Oct 14, 2016 3:15pm Oct 14, 2016 3:15pm
I can only scalp since I believe that most of the time ItsAtrap!
big money makes big moves and then hides during small money chasing.
  • #10,723
  • Oct 14, 2016 7:19pm Oct 14, 2016 7:19pm
Quoting ItsAtrap
{quote} Hello guys. In my short trade of earlier this week, I took profit from only a small part of the position before getting stopped out of the rest for a small loss as the price reversed and moved up. I was looking for signs on the hourly to re-enter shortwith small SL, and I did so, as London opened the next day. Since then, the price cascaded south, allowing me to move stops at B/E for what is a now a trade with no capital committed to it. However, as I have not taken profits on this later short, in terms of realised P&L on USDCAD this week...

Hmmm...

For me UC will come down to 1.3050 {Daily 200ema / monthly central pivot line} but will resume north again for longer time.... most probably before it touch 1.2950 (Daily channel lower Trend line)
imdi
  • #10,724
  • Oct 16, 2016 9:03am Oct 16, 2016 9:03am
Bearish here.
  • #10,725
  • Oct 16, 2016 2:50pm Oct 16, 2016 2:50pm
Quoting corrman
I can only scalp since I believe that most of the time ItsAtrap!
If it works for you great. I found that the lower timeframes did not work for me.

So, looking at your signature, is scalping what you do when you follow your system, or is it what you end up doing because you can't follow it?
  • #10,726
  • Oct 16, 2016 2:52pm Oct 16, 2016 2:52pm
Quoting imdisaait
{quote} Hmmm... For me UC will come down to 1.3050 {Daily 200ema / monthly central pivot line} but will resume north again for longer time.... most probably before it touch 1.2950 (Daily channel lower Trend line) imdi
It can certainly do that. Last week didn't even break the previous week's lows, so based on my system, no short signal on the larger timeframes yet.
  • #10,727
  • Oct 16, 2016 4:31pm Oct 16, 2016 4:31pm
WEEKLY UPDATE
Attached Image(s) (click to enlarge)
Click to Enlarge Name: usdcad-w1-forex-capital-markets.png Size: 32 KB
Click to Enlarge Name: usdcad-d1-forex-capital-markets.png Size: 60 KB
Click to Enlarge Name: usdcad-d1-forex-capital-markets-2.png Size: 58 KB
  • #10,728
  • Oct 16, 2016 4:31pm Oct 16, 2016 4:31pm
ONE MORE
Attached Image (click to enlarge)
Click to Enlarge Name: usdcad-d1-forex-capital-markets-3.png Size: 55 KB
  • #10,729
  • Oct 17, 2016 8:29am Oct 17, 2016 8:29am
Tightening up like a spring coil. Here comes the explosion!
  • #10,730
  • Oct 17, 2016 8:41am Oct 17, 2016 8:41am
Earlier today, as LDN's second hour of trading was coming to a close, I took the opportunity to add to my shorts with a very tight SL.
Attached Image (click to enlarge)
Click to Enlarge Name: UCAD add to shorts 17Oct16.jpg Size: 153 KB
  • #10,731
  • Oct 17, 2016 12:26pm Oct 17, 2016 12:26pm
Hello. Tightened all SLs to just above my latest short entry to lock some 100pips profit from earlier short positions. Anticipation is that we have a bearish flag forming with the tops at today's highs , and looking for continuation
Attached Image (click to enlarge)
Click to Enlarge Name: USDCAD move stops 17Oct16.jpg Size: 145 KB
  • #10,732
  • Oct 17, 2016 2:35pm Oct 17, 2016 2:35pm
If price fails to break the lower trendline of the inner ascending channel being operated by the USDCAD - very clear on the daily and 4H tfs - there is likely to be a further upward move to retest the upper trendline.

KP

Attached Image (click to enlarge)
Click to Enlarge Name: USDCAD_Tracking_Daily_Monday_Oct._17,_2016.png Size: 23 KB
Do your homework, follow the footprints of smart money
  • #10,733
  • Oct 17, 2016 3:03pm Oct 17, 2016 3:03pm
Yep, not much conviction shown yet in the current downtrend. Market will show its hand soon
  • #10,734
  • Oct 18, 2016 2:30am Oct 18, 2016 2:30am
Weekly short signal has triggered on my system now, with the break of last week's lows. 1.2865 min target
  • #10,735
  • Oct 18, 2016 4:59am Oct 18, 2016 4:59am
I too have a short position, but my target is 1.3000. If it breaks out below that level I will consider opening more shorts.
  • #10,736
  • Oct 18, 2016 12:25pm Oct 18, 2016 12:25pm
Attached Image (click to enlarge)
Click to Enlarge Name: 9869f449-ba24-4ccf-b585-7772290395f9.jpg Size: 346 KB
  • #10,737
  • Oct 18, 2016 4:57pm Oct 18, 2016 4:57pm
Quoting dianajs
I too have a short position, but my target is 1.3000. If it breaks out below that level I will consider opening more shorts.
Sorry, my mistake in measuring: 1st downside target on the weekly signal I got is not 1.2865 as in my previous post, but around 1.2990, so very close to your target. Except that i would be closing positions there, not opening new shorts. That's because I suspect that this is not yet THE usd/cad decline. I think that price will dip for a week or so, then rise up for one last gasp north, past the recent weekly tops. There, I would expect to see a small weekly bar at exhaustion, which would allow me to short again with small stops

If I am right, we are probably still a couple weeks to a month away from that last gasp north, so nothing wrong with collecting some pippos in this dip , especially with profits locked. My stops are still at my last entry level, nearly 80 pips away from curr price
  • #10,738
  • Oct 19, 2016 5:48am Oct 19, 2016 5:48am
Quoting ItsAtrap
Hello. Tightened all SLs to just above my latest short entry to lock some 100pips profit from earlier short positions. Anticipation is that we have a bearish flag forming with the tops at today's highs , and looking for continuation {image}
Brief update on my short positions on this pair: I have now lowered stops further to just above yesterday's high thereby locking around 150 pips profit on the first short entries and some 30pips profit on the additional shorts I took on 17 Oct.
  • #10,739
  • Oct 19, 2016 5:59am Oct 19, 2016 5:59am
situation in the hourly chart. Always try to lock in profits or at least move to break-even. Protecting your capital should be the first concern. Dont care if the market reverses and stops you out at break-even 1000 times. You are still ahead of 90% of traders because you at least preserved your capital for the day when your trade will NOT get stopped at b/e but will instead become a runner that nets you 100s of pippos
Attached Image (click to enlarge)
Click to Enlarge Name: USDCAD short 19Oct16 hourlies.jpg Size: 129 KB
  • #10,740
  • Oct 19, 2016 7:54am Oct 19, 2016 7:54am
The pair rebounded from 1.3050, but it is almost back to testing that support again. However, I won't be opening any more short positions on this pair before it breaks below 1.3050.
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