USDCAD LONG
Updated
Hi again trading view, after a hiatus I've decided to start publishing trades again now that i've had a full year of sustained and profitable trading, solely from this pair.
I'm SUPER bearish CAD, fundamentally I don't think I've seen a worse bearish case for CAD since I've started trading. Outlook is not great, household debt at all time highs before crisis, a very bad outlook for the energy industry right now. FOMO on American equities could also make a bullish case for USD. However, the reopening of the states could be seen as a negative view by some though and could make their crisis more prolonged and painful than in other countries, and I am unconvinced the Swap line the fed has created is going to solve the potential eurodollar mess.
Daily bull flag appears to be forming. Looking to get long. Yesterday price ripped down pretty quick and what I consider to be weak and unsustained, looking to completely make this move back. I don't look at anything other than M, W, D & then enter on 15min.
If i don't get this almost exact price action, no trade. My last trade is on the left, looking for the exact same thing, looking for price to establish a short term resistance, flip to support and use it to propel upwards. I will try to update when I can.
DISCLAIMER
There is a very high degree of risk involved in trading. Past results are not indicative of future returns. I assume no responsibilities for your results, these are merely ideas. Stay safe out there!
I'm SUPER bearish CAD, fundamentally I don't think I've seen a worse bearish case for CAD since I've started trading. Outlook is not great, household debt at all time highs before crisis, a very bad outlook for the energy industry right now. FOMO on American equities could also make a bullish case for USD. However, the reopening of the states could be seen as a negative view by some though and could make their crisis more prolonged and painful than in other countries, and I am unconvinced the Swap line the fed has created is going to solve the potential eurodollar mess.
Daily bull flag appears to be forming. Looking to get long. Yesterday price ripped down pretty quick and what I consider to be weak and unsustained, looking to completely make this move back. I don't look at anything other than M, W, D & then enter on 15min.
If i don't get this almost exact price action, no trade. My last trade is on the left, looking for the exact same thing, looking for price to establish a short term resistance, flip to support and use it to propel upwards. I will try to update when I can.
DISCLAIMER
There is a very high degree of risk involved in trading. Past results are not indicative of future returns. I assume no responsibilities for your results, these are merely ideas. Stay safe out there!
Comment
so far we have got the exact price action I've wanted, albeit a support level above, but nonetheless, the plan is going great so far, need a clean break above 3960 and need an entry before crazy time at 830 for trade to be be valid, next couple candles will be keyComment
got my break above, trade is valid, stop below the low made in the night.Comment
price broke back below the very next candle, need it to get back above 3960 or i will consider closingOrder cancelled
took a loss on this. needed 3960 to break and it didn't, jumped the gun a bit. Looking at the daily chart i'm looking for price to take out lows at 3950 before rallying back up. Still very bullish for me
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