EURCAD short (UMLH touch)

FX:EURCAD   Euro Fx/Canadian Dollar
58 0 1
a year ago
Enough said about the UMLH reaction in the weekly analysis. Now we see that the reaction occurred in .786 Fib level, which reinforces the bearish inclination. The Stoch led the price by the bearish crossover, but the conservative trader could not be sure if that was a reliable signal. Now that they can be sure of the validity of the signal with the big red candle.

I am in a strong debate with myself on whether or not to select the daily chart as my operational time frame. Normally, what I would do is to be led by the daily view, and decide for an entry in 4h, and then get in and get out on the way to get in again in the hourly chart. But nowadays I am trying to convince myself that looking a daily chart gives me the options to look for opportunities in different instruments. Thus, I thought I can trade the daily charts , just as oldies did. And this is proper if you also lack the amount of peaceful time to consider investment opportunities. Because daily charts do not really require as much commitment as their intradaily counterparts do.

With this one, then, I give my first trade call here. Needless to say this is not an investment advice of no sort; trading is dangerous and risky blah blah...
a year ago
Trade closed: stop reached: That's both good and bad news. Bad news is that this was my first idea involving a clear trade signal, and it doesn't feel good to get stopped out in the first trade. Good news is all 4 of my other signals hit the target. So it makes 4 out of 5. Considering I normally risk like 5% of the equity with at least 1:2 risk-to-reward ratio, it makes around 35% profit. Whoa, I'm rich now! No, just joking, I still have bills to pay.
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