EURCAD: Sell Opportunity With Great Risk/Reward Ratio

FX:EURCAD   Euro Fx/Canadian Dollar
563 7 18
Price is testing a previous support current resistance level of a slide parallel downsloping median line set, where price was previously was rejected. That's a nice sell opportunity with great risk/reward ratio. Sl and tp as shown at the chart.
Trade closed: stop reached
I'm going with this one :)
Fxprotrader martin1024
Ok, good luck :)
Good to consider. I did
Fxprotrader - you appear to have changed / adapted your trading style focussing more on median line analysis recently. Do you still use harmonic patterns as part of your trading but they're now secondary to pitchfork? Are you finding this more successful?
The only thing i do is reading market's structure.. I believe that most of the traders know more than a single method or setup or system, you name it. how you read structure is what will give you an edge. In your question now, it's been a while that i use median line analysis because of it's a leading indicator and most of setups give tremendous risk/reward ratio. So if a harmonic completes at a valid slope trendline i will take it. If i see a multiple rejection at the same line i will take it. But structure is key to technical analysis. That's what i believe.. I hope that this helps..!
peterfx PRO Fxprotrader
Oh of course - didn't mean to imply you're now focussing on one method - but you seem to be giving more weight to median line as a tool to view / analyse market structure. Not exclusively - just a tool, but added weight. Good luck to you. Love your charts.
That's right peter.. Thanks for your kind words.. Take care..!
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