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Thread: USD/CAD

  1. #1
    I'm looking at my Chart and it looks like we touched a low that we have no seen because july 08. Does anyone have some ideas on is to risky or the best way to trade this setup? Looks like strong support at the 1.0062 level. Can it be unwise if this level breaks to short this?

    Any thoughts?

    Thanks

  2. #2
    Most state UC will go up.

    That means it's going to return. :-D

    Sometimes even with long trading expertise or generally reliable fundamental/technical evaluation, one ends up with a losing transaction.

  3. #3
    [quote=raklian;10630820] Sometimes

    correct, that's trading

  4. #4
    [quote=Squiggles;10630828]
    Quote Originally Posted by ;
    Sometimes correct, that is trading
    I lose the majority of the time but I wind up on top at the end of every quarter. It used to hurt like hell but I've become desensitized to it. Thinking long term (we're talking a few quarters or months) when it comes to profitability can be extremely beneficial.

  5. #5
    Taking a long-tern perspective when trading success is beneficial. It participating in trading customs, anxiety and reduces anxiety. It enables the trader to concentrate on areas they can improve on in order to become better and successful in trading.

    Trade thrive and safe.

    KP

    [quote=raklian;10630833]
    Quote Originally Posted by ;
    quote I shed the Majority of the time but I wind up on top at the end of every quarter. It used to hurt like hell but I've become desensitized to it. Thinking long term (we're talking several months or quarters) as it comes to profitability can be hugely beneficial.

  6. #6
    Here Is a technical Standpoint on the USDCAD.

    On the daily time frame, it is apparent from May 2017, cost action has formed three spontaneous price waves southward using two corresponding corrective waves. The third corrective wave started in September 2017 and formed a wedge pattern (bound in magenta colored lines). This wedge was busted southward by price action but we might see a retracement in an effort to retest the broken support channel line and flip it to resistance before a southward moves increases momentum. It is possible that cost action may turn around before reaching the broken channel support as the 1.26320 place could function as a resistance zone, albeit a little one. Nonetheless, a southward turnaround from an upward retracement is very likely to expose the 1.21570 handle.


    I might be wrong. Trade safe and prosper.

    KP


  7. #7
    1.2500 can be the key plogical level on the downside.

  8. #8
    I think that it will bounce back up at 1.2400 on Friday, january 5.

  9. #9
    Quote Originally Posted by ;
    I think that it will bounce back up at 1.2400 on Friday, january 5.
    How do you feel this will happen on 5th? Any supporting information

  10. #10
    H1 Typical impulse wave call from 12th December top, thanks for completion near 1.2470, putting up for medium-term longs.

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