High-Risk Trade; Three Potential Targets | $CAD $JPY #BOC #BOJ
Friends,
A high-risk trade coming thru, based on loose upside - I usually prefer more generous reward-to-risk ratios, but here it is:
Partial Entry @ 91.58
SL @ 93.442 - More junior traders might consider a rallying into 92.758 vicinity to play it safe
TP @ three potential levels, namely:
1 - TG-1 = 89.250 - 21 MAR 14, moderate probability
2 - TG-2 = 87.404 - 21 MAR 14, moderate probability
and
3 - TG-Lo = 85.762 - 21 MAR 2014, low probability
Each trader must know what his risk tolerance is before entering any trade. This means that before an entry is executed, a trader must know the percentage of risked fund potentially lost to the markets. This means knowing what your stop-loss ("SL") is before you even think about your profit target.
In this type of trade where the reward is too close to the value of loss, the higher-probability target might appear enticing, but the loss exposure might be too great for a trader with thinner accounts. Playing daily charts is also riskier, because the trader might not be willing to wait the time necessary for the trade to complete, especially when contemplating other potential trading opportunities in other charts/markets. So, here too, know who you are. Do not let the market (and that means people like me) help you find out what type of trader you are. You need to know this before you play - You will probably NOT have enough funds to learn from all the lessons encountered through mistakes.
Okay, enough soap-boxing.
Now, technically, the trade I chose is based on proprietary discoveries, although the entry is LATE, hence the riskier profile of this trade.
Looking at the H4 level, there is LESS chance of a rallying based on the negative divergence in RSI. However, this being Friday, enough fundamentals can trump technicals is not all events are discounted in such a tumultuous world stage, and over a week-end. We'll see what Sunday brings. I'll be back at work then.
Cheers,
David Alcindor
TradingView.com Moderator, Alias: 4xForecaster
Predictive Analysis & Market Forecasting
PS: If you liked the analysis, feel free to give it a "Thumb Up" and pass of a friendly referral to friends interested in occult market mathematics and hidden geometries. All targets generated are defined by non-price means, and confirmed by either proprietary patterns (Euclid, Janus, Great White, Deep Shark), or other well known patterns. However, we concentrate mainly on Shark, 5-0 and occasional Bats, to complement our predictive analysis and forecasting - Cheers, David Alcindor.
-----------------------------------------------------
Get signals, analyses and forecasts on Twitter
Alias: @4xForecaster
-----------------------------------------------------
Disclaimer: Forecasts, analyses and directional opinions generated herein are for educational purposes only and are not trading recommendations. We trust that you will do your own due diligence first, then seek professional advice from a licensed professional, then enter the market at your own perils - David Alcindor - TradingView.com Alias: 4xForecaster
A high-risk trade coming thru, based on loose upside - I usually prefer more generous reward-to-risk ratios, but here it is:
Partial Entry @ 91.58
SL @ 93.442 - More junior traders might consider a rallying into 92.758 vicinity to play it safe
TP @ three potential levels, namely:
1 - TG-1 = 89.250 - 21 MAR 14, moderate probability
2 - TG-2 = 87.404 - 21 MAR 14, moderate probability
and
3 - TG-Lo = 85.762 - 21 MAR 2014, low probability
Each trader must know what his risk tolerance is before entering any trade. This means that before an entry is executed, a trader must know the percentage of risked fund potentially lost to the markets. This means knowing what your stop-loss ("SL") is before you even think about your profit target.
In this type of trade where the reward is too close to the value of loss, the higher-probability target might appear enticing, but the loss exposure might be too great for a trader with thinner accounts. Playing daily charts is also riskier, because the trader might not be willing to wait the time necessary for the trade to complete, especially when contemplating other potential trading opportunities in other charts/markets. So, here too, know who you are. Do not let the market (and that means people like me) help you find out what type of trader you are. You need to know this before you play - You will probably NOT have enough funds to learn from all the lessons encountered through mistakes.
Okay, enough soap-boxing.
Now, technically, the trade I chose is based on proprietary discoveries, although the entry is LATE, hence the riskier profile of this trade.
Looking at the H4 level, there is LESS chance of a rallying based on the negative divergence in RSI. However, this being Friday, enough fundamentals can trump technicals is not all events are discounted in such a tumultuous world stage, and over a week-end. We'll see what Sunday brings. I'll be back at work then.
Cheers,
David Alcindor
TradingView.com Moderator, Alias: 4xForecaster
Predictive Analysis & Market Forecasting
PS: If you liked the analysis, feel free to give it a "Thumb Up" and pass of a friendly referral to friends interested in occult market mathematics and hidden geometries. All targets generated are defined by non-price means, and confirmed by either proprietary patterns (Euclid, Janus, Great White, Deep Shark), or other well known patterns. However, we concentrate mainly on Shark, 5-0 and occasional Bats, to complement our predictive analysis and forecasting - Cheers, David Alcindor.
-----------------------------------------------------
Get signals, analyses and forecasts on Twitter
Alias: @4xForecaster
-----------------------------------------------------
Disclaimer: Forecasts, analyses and directional opinions generated herein are for educational purposes only and are not trading recommendations. We trust that you will do your own due diligence first, then seek professional advice from a licensed professional, then enter the market at your own perils - David Alcindor - TradingView.com Alias: 4xForecaster