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Friday, November 27, 2020

USDCAD - Strength but not just yet

USDCAD - Strength but not just yet

We have Monday as a new cycle so we could easily push into the middle of next week for the change in trend. At the moment, the Long is too obvious & with retail traders 75% Long, The price needs to drop to collect some more liquidity. Expect an extreme spike or a long candle that will scare most long positions.

Last week saw Asset Managers start adding longs but Leveraged Funds adding a load of shorts. Take your time on the entry as it's the retail traders net Long that paint's a clear picture - who do the big boys sell to if all the little fish are already Long???

The Bias for this pair for institutional money is 85% CAD (AM) and 75% CAD for the (LF)

Disclaimer
This idea does not constitute as financial advice. It is for educational purposes only, our principle trader has over 20 years’ experience in stocks, ETF’s and Forex. Hence each trade setup might have different hold times, entry or exit conditions and will vary from the post/idea shared here. You can use the information from this post to make your own trading plan for the instrument discussed. Trading carries a risk; a high percentage of retail traders lose money. Please keep this in mind when entering any trade. Stay safe.



from Trading Ideas https://ift.tt/3lf2I2a
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