enolife2: I don't think is a gang up trade. if you look at the weekly chart and daily chart you see that the trade has 2 trend ( 1 big picture trend and small picture trend trend ).
IN THE SMALL TREND LINES
for the past six weeks USDCAD has been trading in the small picture trend lines support and resistants, last too weeks it form equal rejected pin bar signalling undecided market , last week the try to bull but was stop at the resistance of the small trend line and pull back. this pull back gives a strong signal on the daily chart. This week, traders followed last week price action which form at the small resistance trend line and drive the market down towards small support trend line. on getting to the small support trend line on Wednesday, there was no strong signal to drive the price above the Monday candle, so the market had no choice than to fall towards the big picture trend line
GETTING TO THE BIG TREND LINE Yesterday the market got to the support level of the big trend line. since there was no Price action form on yesterday daily candle, the market have no choice then to keep falling towards the next available support level until price action is form to drive to price up
I will try to upload my chart set up here either today or tomorrow for you to see what am try to explain
I agree with you because I saw that too. However, I prefer obeying my indicator. I have learnt how to be patient in this biz and I can hold a trade for as long as a month.
Thanks and be focused. We can make it in this biz.
enolife2: don't jump into trade without price action candle signal As you can see the fall continue toward 1.32664 support level. In fact if no strong Price action form on today's daily chart candle the fall might continue towards 1.31130 support level
I think it is a gang up against some stop losses. My indicator has given buy signal since wednesday. Once the indicator gives a signal, I don't trade against it because the market will comply in a short time.
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redsox11: Trade idea. Would be nice to see the cad news come out hot, to drive USDCAD up with good momentum, taking out previous WEEK high. Thus setting up a beautiful sell off back into range. So basically fake break out and back down into range. Very close to doing AB=CD
Trust me , if it breaks that high today or tomorrow , it's definitely coming down into range, you can take that to the bank.
You are very right bro. That's exactly what it is doing now, coming back into range. In fact, it has entered the range.
NgeneUkwenu: As you can see the from the picture attached, Oshiomole was actually moved to the end and not embarrassed as mischeviously reported earlier by the chronic wailers, aided by their news media.