$EURCAD
Entry: 1.54675
TP: 1.55050 (37.5 pips)
SL: 1.54325 (35 pips)
Daily timeframe. Entered this trade at the end of the day on Friday (12/11). This is basically a scalp as far as I'm concerned and hoping the take-profit level will be hit Monday or Tuesday. The risk to reward ratio is not ideal, but I'm liking a few things with this trade. Shooting star close to the day on Friday, preceded by a long wick below the 200 MA. Looking for a rebound here to at least the 30EMA and the bottom of the Ichimoku cloud. Stop loss level was set a comfortable distance below 200MA and LOD on Friday.
I have a feeling that there's room for a move upward to 1.559, but I don't want to commit myself to that until a daily close above 1.55240. Risking 2% of my account, as always.
-Zedro
Entry: 1.54675
TP: 1.55050 (37.5 pips)
SL: 1.54325 (35 pips)
Daily timeframe. Entered this trade at the end of the day on Friday (12/11). This is basically a scalp as far as I'm concerned and hoping the take-profit level will be hit Monday or Tuesday. The risk to reward ratio is not ideal, but I'm liking a few things with this trade. Shooting star close to the day on Friday, preceded by a long wick below the 200 MA. Looking for a rebound here to at least the 30EMA and the bottom of the Ichimoku cloud. Stop loss level was set a comfortable distance below 200MA and LOD on Friday.
I have a feeling that there's room for a move upward to 1.559, but I don't want to commit myself to that until a daily close above 1.55240. Risking 2% of my account, as always.
-Zedro
Trade closed: target reached:
Nailed this one. Landed overnight at TP. Again, I have a feeling EURCAD will continue to see movement to the upside, but I'm not comfortable enough to jump in on a longer-term position.
-Zedro
-Zedro