Πιεσμένο ελατήριο οι τράπεζες…..
October 25, 2018
Προσπάθεια να ξεχωρίσουμε……
October 26, 2018

October 23rd USDCAD was near resistance just below 1.31 and I saw the opportunity to go short…..stop was very close so risk was low….potential was good for a move lower…we got nearly 100 pips yesterday but prices bounced….

 

Price was swinging up and down inside a  downward channel. Price got rejected as expected and pushed yesterday below 1.30. Now still trading below 1.31 looks like we are going to see below 1.30 again…..

I have lowered my stop to break even at 1.3085 and look for a break of the upward sloping trend line support. If this happens we should see a push towards 1.29 at least if not lower.

Breaking below 1.29 will open the way for a push towards  the lower channel boundary near 1.28-1.27.

Thank you for taking the time to catch up on my thinking

Alexandros Yfantis
Alexandros Yfantis
Fascinated by financial markets, studied International Securities Investment and Banking in the UK, works as a Portfolio Manager in Greece and runs a technical analysis website. Enjoys travelling and spending time with his family and preparing for the black belt in Korean Karate.