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Video / 18 August 2016 at 6:41 GMT

Why I’m trading USDCAD: Coleman

Ian Coleman - First 4 Trading
Ian Coleman from First4Trading.net gives a technical analysis with charts regarding why he’s trading USDCAD.

He plans to sell USDCAD on a rally at 1.2935 or on a break at 1.2790. The stop is at 50 pips and his target is 1.2580.

18 August
Anton Bushin Anton Bushin
HI Ian, what do you think about EURGBP?
18 August
assi assi
Hi Ian, im looking to short EURJPY...can you advice your levels..?
18 August
Ian Coleman - First 4 Trading Ian Coleman - First 4 Trading
I think EURGBP needs to break an intraday channel.
18 August
Ian Coleman - First 4 Trading Ian Coleman - First 4 Trading
EURJPY looking to short close to 113.50

EURJPY - Posted Mixed Daily results for the last 11 days. This has resulted in a large symmetrical triangle formation being posted on the intraday chart. There is no clear indication that the downward move is coming to an end. The bias remains mildly bearish but there is scope for a move in either direction at the open. As this corrective sequence continues we look to set shorts on a rally at better risk/reward levels. Our profit targets will be 112.40 and 112.00.
18 August
assi assi
Thanks Ian
18 August
Anton Bushin Anton Bushin
Thank you Ian, so it seems to be not a flag. And uptrend will continue?
18 August
Ian Coleman - First 4 Trading Ian Coleman - First 4 Trading
NO ... I am selling EURGBP ... its just a corrective channel (I think)
18 August
Anton Bushin Anton Bushin
Agree. Thank you. Statistics from Britain confirmed that.
18 August
Ian Coleman - First 4 Trading Ian Coleman - First 4 Trading
support seen at 0.8587 (bespoke - unlikely to hold) 0.8568 /0.8553 ... I am going to run this one with a time decay ... should be bearish for the next 14 hour (minimum) on our system .... looking for a big bleeder
18 August
assi assi
Hope this is the high....do you think ?
18 August
Ian Coleman - First 4 Trading Ian Coleman - First 4 Trading
I think EURGBP could have a top in place (weekly DeMark 13) ... EURJPY could be a daily top (i hope.... we are short at 113.50)
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