This post is for sharing purpose.
Have short positions in USDCAD established since end July.
Prior to the short positions, was looking to go long for the USDCAD as price action was trading upwards and breaking the kumo cloud. However, chikou span still trading below the kumo cloud.
Within the next few periods, a sharp reversal from the price action itself, decided to look for opportunity to go short. Technically, either tenkan-sen cut below jikun-sen or chikou span cut below the lowest low prior to the current price action. Established the first short position when chikou span cut below the lowest low prior to the current price action.
Shortly after establishing the first short position, the second short position was established, a pure price action set when the price traded below the most recent low.
Positions have been maintained till with stop loss level below entry price.
It is really bad news for the USDCAD investors that it's value goes down. In the above diagram we can see that slop is constantly goes down.
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I guess it is. Have added one more position. Will have an update on this sharing post.
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