Shorting The Dollar

I've still been very much short on a number of pairs in forex market and it just happens that we've had some short on USDCAD and USDJPY that we've been looking at over the past few weeks. I did short other pairs like GBPCHF for some pips but I won't go through all the ones we looked at in the members are now.

USDCAD

Before

The following chart will be familiar to you if you read the post from last week here (check the date stamp). UC was ripe for a short given that after engulfing daily and weekly demand, we kept on seeing moves away from supply.

2016-02-21 UC Short D1

During

Now for the premium members, I showed the levels I wanted to see engulfed to confirm a short trade so this was posted on the private forum along with a description of what to look for:

2016-02-21 UC Short M15

After

Next we saw price engulf that very first level that I marked up and price returned to newly created supply for a short. After trailing the stop on the short term account I was out of the trade later that day.

2016-02-22 UC Short M15 result

Another opportunity to short USDCAD came up later in the week so shared thoughts on that in the forum.

2016-02-24 UC Short 15m

After the engulf, fresh supply formed without rallying up to the initial one higher up and decent pips were on offer there too.

2016-02-25 UC Short 15m

2016-02-25 UC Short D1

USDJPY

UJ gave us pips last week and after rallying up the same area we shorted from previously, there was another trade on so I took that one as well.

Before

2016-02-21 UJ Short D1 v01

During

After an engulf and an entry, I was expecting a move much further down.

2016-02-22 UJ Short M15

After

The larger move came and after moving my stop twice, I was out for profit before price reversed.

2016-02-23 UJ Short M15

2016-02-23 UJ Short M15 result

I hope you found this useful.

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