FX:EURCAD   Euro / Canadian Dollar
981 8
Fresh demand zone ahead. Long opportunity.

Stuff to remember:

— First look for significant move, then follow it to its origins where you might find a suitable level to evaluate further

— Make sure the initial move is significant on the same timeframe as the one you use for viewing your candidate level most clearly

— Check the distance that price traveled before the trend ended, longer distances mean larger initial imbalances and improved probabilities in the future

— The strong initial move can contain a few small retracements but not so many that make this move slow and weak

— Avoid opposing levels on the same and immediately higher timeframes, prefer to have a clear road ahead for your trade to run

— Make sure your level is placed correctly (low for Demand, high for Supply) in relation to the big picture's important tops and bottoms

— Trading the first return of price to a valid "fresh" level carries the highest probabilities due to the larger imbalance

— A valid level is considered "fresh" if price has not returned to it since its creation. It has nothing to do with how old the level is
Trade closed: target reached
I continue to hold it .
nailed it. good job wonk
tradewonk behavioral_e
@behavioral_e, Thank you!
Thank you .
tradewonk ForexLoveme
@ForexLoveme, No problem.
This level doesn't look so strong to stop the trend. For small RR 1:2 will probably suffice. http://i.imgur.com/Nt9Rkca.png
tradewonk tradingphoenix

I actually was looking for the bigger trend. My aim is actually 1:4/5 but i set to break even after 1:2

@tradewonk, OK then
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