RCtrader replies to: USD/CAD


{quote} Relax man. Still to early to conclude the situation. Powell already signal the gradual rate hike soon. What market maker do? They open the price below. Why? Market over reacted yesterday. Looks like someone or two or more already know this is about to come today. Market start buying back the dollar. Lets see where will the daily close

Not trying to tell you how to trade… I just don’t like to listen to traders and fundamentals anymore. Everyone was long on this pair. Looking at weekly and monthly charts. Almost every trader on tradingview was long as well. I saw something different. Had I listened to every other trader who sounded so confident I would of lost rather than won a 90 pips.

Fundamentals has has nothing to do with my trading. The chart tells me all I need to know. 200 pip moves I don’t care about. I go for multiple targets of 20-30 pips. Once I see price exhausted I’m out. Look for my next set up.

Weekly and monthly charts take take a long time to unfold… You will either be losing valuable pips or be in the – for a while

Thats why the forex is complicated. If everyone is long on a pair what do you think the Market makers are doing???

just some food for thought.

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