GBPCAD LongPrice broke the desc. TL
Made a 3rd bounce from the asc. TL
Bounced off of Major resistance
(Which is also the bottom of the weekly consolidation range price is now in)
2 Targets. 1 at top of range and one at next key res.
Caddie
Trade #12 USDCAD - The Dollar correctionHappy trading!
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Money management of my trades. There are two targets: the first one is at least double of the target two (the farthest). The proportion is 2/1. So, 2 lots for target one and one lot for target two.
Typically, when the target one is reached, the stop-loss of position for target two is put to breakeven.
If target one is hit before opening positions, the trade will be cancelled.
Trade #20.1 GBPCAD - The stairway down of pound.My attempt to trade the trend down.
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Money management of my trades. There are two targets: the first one is at least double of the target two (the farthest). The proportion is 2/1. So, 2 lots for target one and one lot for target two.
Typically, when the target one is reached, the stop-loss of position for target two is put to breakeven.
USDCAD - Possible 5 waves extension of a 5th wave of a 5th wave.USDCAD consolidates in a fifth wave (daily) of a fiifh wave (weekly)
It may go for another five waves up as an extension of the 5th wave. If the consolidation breaks south, it is reasonable to expect an ABC correction.
Trade #18 USDCAD - Trading after the breakout. (Pending long)This is a close up at the late correction of USDCAD. I've identified as a 4th wave of 5 at daily timeframe, which is expected to go sideways for some moments.
The entry is not aggressive as the projections leading price to the $1.35 in near future. Fundamentally it is quite possible as the recovery of the US economy and its 5-years-low-rate instigates a rate hike in near future compared to the canadian economy based partly on exportations low-priced commodities and recently lowered interest rates.
