Author Archives: JimDandy 1958

Second Chance on the USDCAD?

The price has returned to the S/R level as well as the 1.3100 psych level.. there is no guarantee it will fall from here but there is a good probability and a good R:R as well… that’s all I ask for.

Follow UP….

The USDCAD decided to break thru our stops.. does this mean it was a bad trade? Not at all. Taking trades at areas where there is a better than average probability in a favored move in our direction with a good reward to risk profile is what we are looking for..When our trades hit our stop losses. It has nothing to do with if it was a bad trade or not. Wait for the good setups and take them every time.

Now the price is moving into this next area where we should see some pressure in the form of sell orders waiting on the servers.. we will watch for a new opportunity to take a trade that makes sense at that level…. Pip Pip..

Follow Up .. 2.0..

The price put in some indecision candles at the top and then retreated to previous structure support levels. This is why learning to read structure is so important.

 

USDCAD Short Opportunity?

This is a look at a USDCAD making a double top and a bearish cypher at the same time. good place to short with good R:R.. I’d feel better if that 1.3100 wasn’t standing between us and our targets below.. where do you think it’s going?

Here’s a follow up pic… KACHING…