USDCAD: Downtrend continuation

USDCAD has confirmed a daily time at mode downtrend aiming for 1.30 as maximum target.
I'm short from last night, using a discretionary entry ahead of confirmation in the daily, but I'll be adding as we progress towards the target and continue to be in the money with our position.

Good luck if going short with me, remember to keep a wide stop loss, either ATR based, or using the mode.
I'll be trailing stops and adding to the position as the trend evolves, it could result in a very large move to the downside based on my observations.

Cheers,

Ivan Labrie.
Time at Mode FX

ความคิดเห็น:

Covered for now, no loss, very sudden action today.

การซื้อขายยังคงดำเนินอยู่

ปิดการเทรด ด้วยตนเอง:

To me this downtrend is about to fail, I'm standing aside.
The way crude is acting, is causing trends to become shakey.

ความคิดเห็น:

I reshorted today, smaller position and wider stop.

ความคิดเห็น:

After today's close we have a new mode lower...this is characteristic of a downtrend.

ความคิดเห็น:

Once we get more confirmation, we can add aggressively.
For now my position is small, but it's a 2R win at my target (1.3)

ความคิดเห็น:

Added under a daily low...holding both profitable entries until we hit the target.

ความคิดเห็น:

Added more after we put out a new high.

ความคิดเห็น:

Almost at the target, pay close attention to it, the dollar index is near long term support, but there's still room left for oil to top.

ปิดการเทรด: ถึงเป้าหมายการทำกำไร:

I'm long USDCAD for 2 days now. I think it has reversed.