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Looney

🔥 STOP LOSS MODIFIED: USDCAD 🔥 Counter-Trend TradeRESISTANCE @ 1.3269 SLO @ 1.3245 ⏳ TP3 @ 1.3235 (closing ALL Buy Orders) TP2 @ 1.3210 (shaving 25%) TP1 @ 1.3190 (shaving 25%) 💰 +24 pips +SL @ 1.3169 🚫 BSO @ 1.3166 📈 +28 pips 🤑 BLO1 @ 1.3150 ⏳ BLO2 @ 1.3140 ⏳ SUPPORT @ 1.31246 💰 TP1 is in the bag for a profit of +24 pips 💪🏾 TP2, here we come!!!! 🤑 BSO Net Equity is @ +28 pips 🚫 Stop Loss has been modified to preserve capital (see above)
Long
by ProfessorCEWard
The Looney Continues to Bargain in FlatThe technical picture on the USD/CAD currency pair is still ambiguous. A temporary low is formed at 1.3115 in USD/CAD and intraday bias is turned neutral first. Further fall is expected as long as 1.3205 holds. A clear break below 1.3115 (38,2% Fibo retracement on the daily chart) will resume the decline from 1.3327 and target 1.3042 key support. Sustainable move there will bring larger bearish implication. On the upside, above 1.3205 (Friday high) minor resistance will turn bias back to the upside for re-test of 1.3327 resistance instead. Our Buy trading is still active. Do you trade that pair and how?
by ForexTrendline
1
Reversal at resistanceLower highs are being formed as can be seen on the daily time frame Flipping to H4 I noticed a bearish engulfing bar that perfectly tested the resistance level. Given the major resistance holding strong this sell signal is somewhat significant. For this type of setup the stop is best placed above the engulfing bar where the setup is deemed invalid and the target must be at least 2x the risk. When looking on the higher time frame, its noted that the potential for a bearish move much more than the initial target is very likely. Don't invest what you can't afford to lose. This is not investment advice. Subjective view/report of a financial product only. You can learn price action trading at no cost. Join my mailing list to receive more information zc.vg DISCLAIMER All information published within this website is purely for educational purposes and offers no guarantees. Profit Fx, Forex Bootcamp and any of its associates cannot be held responsible for any trades that you have executed in any way whatsoever. Please familiarize yourself with the relevant risks involved when trading forex, CFD’s and other products. Any trading is done solely at your own risk. Profit Fx, Forex Bootcamp and any of its associates are in no way employed by any broker or any other legal entity. All information published within this website does not constitute advice, but rather objective information about a financial product and analysis or report of a financial product.
Short
by Cmasterza
CADGBP POTENTIAL SHORT @~0.5360I messed up the original post for this so I am trying again. The Canadian Dollar has rebounded well against the British Pound leaving a bigger picture demand zone below @~0.5140. Price is now coming to an area where there might be a sharp decline away. This supply zone @~0.5360 is also the 50% pullback area of the original down move indicated by the red arrow. Price should fall away upon reaching that zone. Entry Point: 0.5360 Stop Loss: 0.5400 Profit Target 1: 0.5140 Risk: 40 pips Profit: 220 pips (5.5X Risk) Entry can be fine-tuned on the H1 timeframe for lower pip risk and greater profit margin as follows: Entry Point: 0.5365 Stop Loss: 0.5375 Profit Target 1: 0.5140 Risk: 10 pips Profit: 225 pips (22.5X Risk) Entry Point: 0.5382 Stop Loss: 0.5400 Profit Target 1: 0.5140 Risk: 18 pips Profit: 242 pips (13.4X Risk)
Short
by selfrighteousgambler