As I dont leverage at all, my trades are set and forget for a few years. Will add to position as income allows.
Same strategy was followed during USD bull since 2008, no worries if I miss the sweet spot for a couple of cents.
In my humble opinion is not advisable as they would be trading countertrend.
We touched the above expected retrace on friday 20th jan, on what looks like wave 'a' of the abc. . It could still linger some more but moment is good now to board this short.
A SHORT COULD BE ENTERED HERE. go CAD!
Its a little scary to be on the verge of such a LARGE shift.
Here is my view on USD/CAD if you are interested:
Based on Market Profile (volumes) and Price Action there are two very strong resist/support zones.
The short level (1.3666) is placed where a cummulation before a strong sell-off took place.
The long level (1.2922) is based on strong rejection activity accompanied by huge volumes (seen on the right cummulative volume on the right).
If you are interested there are more Market profile swing and intraday analysis in my profile page. You are very welcome there!