IDEA: Although CADCHF is trending down, we are looking for quick "pop" up before continuing down.
RULES:
1) Daily Support - check
2) 3 point fractal with bullish engulfing candle - check
3) RSI - was below 20 at prev low - check
4) Risk to Reward - 1.11 greater than 1 - check
After ticking the above points, this trade meets my rules.
RULES:
1) Daily Support - check
2) 3 point fractal with bullish engulfing candle - check
3) RSI - was below 20 at prev low - check
4) Risk to Reward - 1.11 greater than 1 - check
After ticking the above points, this trade meets my rules.
Trade closed: stop reached
* Lost trade -70 pips* Although it did lose, it was One Good Trade that followed my plan.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.