DayFarrell
Short

AUDCAD beautiful setup, 2 options

FX:AUDCAD   Australian Dollar/Canadian Dollar
HERE IS A LITTLE AMBIGUITY, TWO BEAUTIFUL SET UP, BUT I'M NOT SURE WHICH, BUT TO BE ON THE SAFE SIDE, I'D TAKE THE STRUCTURE TRADE ABOVE . AGGRESSIVE AND GO FOR THE PATTERN. WHAT DO YOU THINK?
I SEE A SCENARIO WHERE BOTH CAN OCCUR, WITH A 38.2 RETRACE OF THE PATTERN AND HEAD TOWARDS THE WALL AT THE TOP.
WHATS YOUR OPINION?
Great , where stops should have been ????
Reply
DayFarrell Trading_Accuracy
structure trades such as this usually gives a good reward to risk, because the third top seldom exceed the highest point. in this situation 20 pips above high is not a bad stop since there is no previous structure to define stop. i will even try to get stops down to 10pips at times with trades like this. but during those times, i do not set an entry order, i get the rhythm of the market and jump in when i figure it has peaked, most of the time with the aid of a 5 min chart, and some elliott wave.
+1 Reply
thanx buddy
Reply
DayFarrell Trading_Accuracy
sure thing, cheers!
Reply
United States
United Kingdom
India
Deutschland
España
France
Italia
Polska
Brasil
Россия
Türkiye
Indonesia
Malaysia
日本
한국
Home Stock Screener Forex Signal Finder Economic Calendar How It Works Chart Features House Rules Moderators For the WEB Widgets Stock Charting Library Priority Support Feature Request Blog & News FAQ Help & Wiki Twitter
Profile Profile Settings Account and Billing Priority Support Ideas Published Followers Following Private Messages Chat Sign Out