FX:USDCAD   U.S. Dollar/Canadian Dollar
1014 10 49
Selling with outlook that the blue line will hold price below. Break above & close above 1.2940 will invalidate the setup & we should take loss. Targets are mapped according to symmetrical movement.
Great one FxSaint.I also had similar idea
+1 Reply
FxSaint Roncriss
Good one Roncriss
Thank you for this idea. One thing i'm curious about, if you have the time:
What would have to happen for you to decide not to go all the way through to T2 and take profits early? When I see the price bend upward, sweat and nerves can break my confidence. Best regards,
FxSaint Steven_Maas
I flip couple of time frames to see if whether there can be some resistance established (since its a short position) then I watch price whether price has momentum to break that resistance. If it break the resistances with momentum filled candle then I encash most of my position leaving only tiny lot just incase if it drops again. This tiny piece I never close manually, instead I let it get stopped out to breakeven. Example
+1 Reply
FxSaint FxSaint
Also sometimes its about target in itself, there are some structures which will attract price towards them, in those case till price reach those structural point, I dont close trades, no matter what. This is not those kind of trade, its not about target in this trade. But there are some trades of mine which I aim very very big moves since I know price will be pulled towards those structure.... I m attaching couple of pattern & charts where I aimed at targets.

AUDUSD - Heading to 0.7450-7650 zone
WEEKLY ANALYSIS (26-30 / OCT 2015) - UsdJpy
GbpAud - Trend Changing ?
Wow. That first screenshot is actually a trade that I wouldn't even think about considering it's a move that can take about a month or more to complete. I'll happily follow your ideas and keep a close eye on your updates. Thank you very much FxSaint for the details!
+1 Reply
Hi @FxSaint, thanks for the reply. I actually get it. So that tiny lot is there to just see it through as a test of sorts and if price then reverses in your favor again, you're still able to add to the short?
FxSaint Steven_Maas
Yes, but if it fails to break resistance with momentum & with some price pattern, then I will have like half of my lot running for target 2.
looks precise, hopefully it lands around those lines, I'm counting on it to drop significantly soon..
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