USDCAD DAILY ANALYSIS

Price almost hit my entry but reversed, that was the drawing I made yesterday about USDCAD after observing that oil was pushing up same way us dollar was going up

For USDCAD if CPI comes out bulilish than expected, we should see a reversal, what is pushing it down is because of cad strong fundamental and oil prices, but if dollar strengthen more on the upcoming fundamentals the trend may change

USDCAD- The retest at the 1.4150 price level validated. next, a break below 1.1420 minor support, and full bearish mode activated before CPI.

Price finally broke that low.

You took a loss right?

USDCAD dropped so badly from my level, it's moving independently, because of oil price and cad fundamental strength

No manh I don't take loses like that my ideology was to sell price didn't even trigger me, it was a sell limit not buy limit why will I even want to buy in a selling trend with all the fundamental knowledge I have been sharing no na I can't, look at the image clearly

USDCAD- dropped as forecasted when the 4hr bearish Channel was formed. Will expected retracements for the sell continuations tomorrow. It's next week I'll expect strong buys to kick in.

I didn't even see that it was a sell limit. It's all good man

No next week buys kicking, if you look closely at the fundamentals dollar is weakening, oil is rising, then cad is fundamentally strong so what do you think will happen we will see more downside untill the dollar gains support and oil shows strong weakness, the box rectangle is my level at 4hr to sell, and 1.41548 is my invalidation level

It happens. That's why having a clear execution plan matters. Whether it's a limit or a market entry, the important thing is sticking to the original trade idea instead of making emotional adjustments after the move has started.

And avoid the fear of missing out too

The fear of missing out can still push into wrong trading decisions

Exactly 💯

You will enter the market with too much risk and if the trade ends up going bad, the loss will be huge

But the truth most traders say what they don't practice , holding a trade with greed don't want to close then price will reverse to sl

I have fallen a victim of that before.

My tp were just too far and unreasonable

I call that clarity surrounded with greed, you have a setup well planned, but your tp level is unreasonable that is because you are been greedy nothing is too small to get from the market, even if it's the least amount

True 💯

I've learnt so hard from that experience

I have updated the USDCAD fundamental analysis, usdcad is moderately bearish now fundamentally but I am still waiting for a retracement back to the supply level I marked to sell from there

That is good zone to sell as it has a fvg below it

Price has just been so resilient to get there, still flat until I get a good setup on USDCAD