UPDATE #1: ANALYSIS: USDCAD - Time to Retrace? Or Continue Trend

2015年7月22日

UPDATE #1:

Price action has pretty much done EXACTLY what I predicted it would do (see my previous post in Related Ideas).

Though prices have not reached the original bearish bat I had posted previously (green), I did already take a SHORT position by way of a ".786 Trade" technique. Of course, prices can still turn back up to fill that bat but now I am hoping it doesn't since I am already SHORT!

After further examining the price action, there was also another bearish bat that was found on the 5M TF that I didn't post before as I rarely venture down to the 5M TF. But nonetheless, it is a valid bat (purple one). Prices did hit that bat though.

Below chart is a little bit more on the ".786 Trade" and also what I am expecting out of this pair.


If anyone wants to know more about the ".786 Trade" technique, let me know.