EURCAD is displaying a potential topping pattern at the top of the recent range, right against a long term mode, the price zone with the most activity in the chart since 1994.
The previous reaction to such a strong historical resistance level was seen in the chart I posted before, where I reccomended buying against support for a potentially very large move to the upside (which resulted in a home run trade, with enough returns for a year).
This is a terrific opportunity to get short the Euro, and long the Canadian, something which I think is perfectly aligned with the current fundamental landscape.
I'll enter with 3 positions, and attempt to ride the downtrend all the way down, booking partial profits on short term selling opportunities, while keeping the core position running, and I'd reccomend you do the same.
I favor an ATR based stop loss, against key levels. If interested in getting specific management cues and further add on opportunities, were this trend to reverse as depicted on my quarterly chart, contact me privately.
See my profile for details.
Cheers,
Ivan Labrie.
The previous reaction to such a strong historical resistance level was seen in the chart I posted before, where I reccomended buying against support for a potentially very large move to the upside (which resulted in a home run trade, with enough returns for a year).
This is a terrific opportunity to get short the Euro, and long the Canadian, something which I think is perfectly aligned with the current fundamental landscape.
I'll enter with 3 positions, and attempt to ride the downtrend all the way down, booking partial profits on short term selling opportunities, while keeping the core position running, and I'd reccomend you do the same.
I favor an ATR based stop loss, against key levels. If interested in getting specific management cues and further add on opportunities, were this trend to reverse as depicted on my quarterly chart, contact me privately.
See my profile for details.
Cheers,
Ivan Labrie.
코멘트:
액티브 트레이드:
We're in with a profitable trade.
Good luck!
Good luck!
코멘트:
Terrific, I hope everyone caught this short.
코멘트:
Flat for now, will rejoin soon.
코멘트:
Reshorted, we have a tight stop, but fairly safe.
Aiming for retest of the lows before the rally or lower.
Aiming for retest of the lows before the rally or lower.
코멘트:
Timing was spot on, could have held the top entry, oh well.
I hope everyone's in. If not in and don't want to miss out, like when I posted 2 hours ago, use a wide ATR stop loss (3 atr will never get you stopped if you're right)
I hope everyone's in. If not in and don't want to miss out, like when I posted 2 hours ago, use a wide ATR stop loss (3 atr will never get you stopped if you're right)
코멘트:
Adding to shorts, fade any rallies, sell new lows, just sell.
코멘트:
Fading today's rally was a good idea. On Monday we have a new mode to short against, lower.
This means the downtrend is very strong.
This means the downtrend is very strong.
코멘트:
Let this one run for eternity...aiming below 1.46 is very realistic.
코멘트:
Reshorted, and adding on a break of support.
코멘트:
A retracement in EURUSD is likely, I expect some consolidation or retrace here as well.
Will be ideal to add to or rejoin this trend.
Will be ideal to add to or rejoin this trend.
액티브 트레이드:
I'm long with a wide stop/small position.
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