Lawrence_G

USDCAD LONG "early sellers doomed?"

לונג
Lawrence_G מעודכן   
FOREXCOM:USDCAD   דולר אמריקאי / דולר קנדי
It's quite crazy every retail trader today is targeting USDxxx SHORTS & xxxUSD LONGS. This is because price has broken the retail trendline visible clearly on most USD PAIRS H4 Timeframes. However it is essential to understand that this is a game of Banks versus the Typical retail trader. On the Chart I posted here majority of people will be anticipating a SELL off meaning 'banks' would make a loss if we sold at current market price and price actually goes down. Hence I expect a bit of of a play around by the Banks potentially in the form of a WYCKOFF schematic to grab the liquidity at the POIs I marked on the chart where unlike most people I will be taking long positions to around 1.3800. At that zone I may go short if I see confirmation on smaller Timeframes but that might not be today. Please do check out my previous posts to understand why retail trading is a rigged game and you need a shift of mindset to win that is different from the herd mentality.

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הערה:
I have not hopped in yet as I wait for the NY Session. From the looks of things , price may drive to our second POI which is where I will ideally go Long after seeing willingness to buy on small TF (1.3645)
הערה:
Okay so price reacted at the first POI but watch how it slightly pierced through showing how weak the POI 1 is. Now look at the formation of double bottoms (retail support to induce buyers. Price looks like it cany come down to the 2nd POI overnight or tomorrow giving us a chance to clear the Sellside liquidity below the first POI, mitigate POI 2 then we can go long to our TP.

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