Keith C wrote:
“A scalp on the USDCAD coming off of 4H 55ma support at 12900 figure.
Trigger was the 5/8 cross on the 5m.
Sorry, this move was almost over b4 I could post it.
Any feedback? would u let this run longer with oil and dow dropping into the NY open?”

Hi Keith C, good call!
I had it marked as a possible WPP to WR2 at the beginning of the week on H4.
Therefore as it retraces and lift off the Fib on M5, I would put the SL at BE and let it run.
I will not take this trade because at this moment I am already down in a EURUSD position.
Let me know how you’ll trade it!
All the best mate!

2100BST Update: M5 worked well, H4 no
The setup on M5 worked well with a lift off the 50% Fib ret.
which predicted and fulfilled a 138.2-161.8 extension.
After that price collapsed following an head and shoulders, so the H4 weekly plan didn’t fulfill its destiny.

I had it marked as a possible WPP to WR2 at the beginning of the week on H4.

Therefore as it retraces and lift off the Fib on M5, I would put the SL at BE and let it run.

The setup on M5 worked well with a lift off the 50% Fib ret. which predicted and fulfilled a 138.2-161.8 extension. After that price collapsed following an head and shoulders, so the H4 weekly plan didn't fulfill its destiny.

4 thoughts on “160630th 1320BST USDCAD based on Keith C post”

  1. Keith C says:

    Thank-you for the feedback!
    From these posts on U/C today (yours and Kate’s [katec] earlier post , getting a good picture of this market.

    1. Miles says:

      Thank you Keith for sharing your trade idea. Keep up the good work!

  2. Keith C says:

    Oh, I did exit at my limit 12950.
    My favorite is to NEVER exit, but I have a skills gap on scalps/putts so doing mostly 20/20 OCO’s.
    I’m experimenting with correlating trend/triggers on 1m, 5m and 15m charts.

    1. Miles says:

      Yeah it’s hard to keep a position in these days, but congratulations you hit your target!

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