USDCAD: Short in preparation for today's news
Updated
Analysis is simple, we have a bearish trend continuation trade, or at the very least a pullback in an uptrend.
USDCAD has encountered massive overhead resistance and might give a great short here.
I'll be hosting a webinar today, explaining how to enter this trade, and how to manage the position once in.
The stop loss can be at a few different places, we can use the one on chart, or a wider one using ATR or the structure above.
If the short fails, we can reenter, as long as the main analysis is correct. It often happens and it makes us miss huge moves, being taken out by a spike. We have to not fear, and trust our analysis, and reshort when that's the case.
If you want live updates and more information, make sure to contact me via pm or skype. I provide signals for auto trading and via email. I'm also providing access to a live trading chatroom where we give education to traders, as well as discussing the positions we're in.
All of these are free of charge for concordbay.com customers.
Cheers,
Ivan Labrie
Time at Mode FX
Analyst at Concord Bay dot com
USDCAD has encountered massive overhead resistance and might give a great short here.
I'll be hosting a webinar today, explaining how to enter this trade, and how to manage the position once in.
The stop loss can be at a few different places, we can use the one on chart, or a wider one using ATR or the structure above.
If the short fails, we can reenter, as long as the main analysis is correct. It often happens and it makes us miss huge moves, being taken out by a spike. We have to not fear, and trust our analysis, and reshort when that's the case.
If you want live updates and more information, make sure to contact me via pm or skype. I provide signals for auto trading and via email. I'm also providing access to a live trading chatroom where we give education to traders, as well as discussing the positions we're in.
All of these are free of charge for concordbay.com customers.
Cheers,
Ivan Labrie
Time at Mode FX
Analyst at Concord Bay dot com
Trade active
Added to position and trailed SL.Note
We broke and closed below support.
Trade closed manually
I'm out. Reshorting if need be.Adding to winners is key.
Note
Note
Target hit in time, we can look to add soon but not yet.Note
I will be hosting a webinar before the US Jobs data comes out: youtube.com/watch?v=830QXuSWSckFeel free to stop by.
Trade active
Note
En route.Trade closed manually
Pips are pips.Managed to make 1% on it. Let's wait.
Trade active
We shorted, booked profits and shorted again...again booked profits. So far 4% has been squeezed out of this pair. Currently in a long we took with the trading room group, captured in today's private webinar:The daily is sitting above the mode for this uptrend leg, if it starts working the daily will also confirm an uptrend, and it's a pretty good target once we're there.
To get these type of signals, make sure to contact me for more information. Trading is an involved and dynamic process, we'd like to collaborate to profit from the market together. Stay tuned for more, next week we'll host another free webinar.
Trade closed: stop reached
Stopped, looking for next week's daily developments. We might get a clear breakout up or down. We're right at a massive volume nodeCrude's at a decision point as well.
Note
4h uptrend invalidated for now. Daily shows two possibilities, we need to take the breakout, no other way around it.
🔒Want to dive deeper? Check out my paid services below🔒
ivanlabrie.substack.com/
ivanlabrie.substack.com/
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