If it works we can see a move above 1.47 in about 10 weeks. I'm holding a smaller long, and will be entering long only trades in the short term, to ride short term swings during the uptrend. 4h and daily should provide good opportunities for us during the NY session. Oil is acting like a huge market top, and fundamentals have changed for the worse as well.
Best of luck,
Ivan Labrie.
Bình luận
⋅
I've trailed my stop tight in profit:
We are near the monthly mode from the decline, if price doesn't break up this idea will fail, daily signals point slightly higher, and have a few more days left. I will short once we hit the monthly resistance and if short term charts align, if the monthly short fails, I will go back to this idea being a HUGE long.
Bình luận
⋅
We had a nice gain and closed the long.
Potential downside if the monthly downtrend resumes is huge:
IF this idea fails, we revert to going long again and aim for 1.47! Talk about crossroads...IF it works, we go to 1.07.
longue vie a toi Yvan ! Decidement tu es souvent sur mon chemain des que je cherche une info !
aussi ton indicateur POCB fait peur ... je crois qu'il est vivant l'ami ! oui il parle meme ... magnifique !
oztrader22
⋅
How are you bullish the usdcad and bullish the eurusd?
IvanLabrie
⋅
@oztrader22, easy...at times, markets can take a hit, the Euro acts like gold, if markets are falling, chances are oil is falling too. USDCAD is inverse oil pretty much.
Happened many times, like in 2014-2015.
oztrader22
⋅
@IvanLabrie, Yeah that's true. Mid 2012-Mid 2014 eurusd & usdcad pretty much went up together. CAD & JPY & SEK all weakened heavily during this period making the DXY go down even though eurusd was going up. Interesting
IvanLabrie
⋅
@oztrader22, yes, FX correlations change often, for different reasons. Very interesting to figure out in advance, to ride big economic trends in cross pairs.