USDCAD update with 4H setup requirement
Daily:
- Candle close still holds above key level. Despite massive USD hit yesterday, mkt coud not make a lower low today.
- haOscillator above its central line shows same momentum divergence signal
4H:
- First we need Ichimoku setup to change to neutral. This would happen if price could break and stay above Kijun Sen. A stabiliziation in/above the area marked by purple arrows is required for a high probability entry.
- Next positive signal would be Price above Kijun + EWO turning green. After it a break above 100wma and Kumo could open space for the corrective move.
Trading is all about patience, measuring risk/reward and probabilities, timing, and risk management (most importantly position sizing). If you don't keep and stuck to your systemic rules, you will bleed out like the biggest losers in Vegas casinos! Just question of time. Pushing a buy / sell button based on emotions is easy, but the consequences are terrible.
Learn risk and position management first! Then learn to follow proper rules like a machine! Then start trading.
- Candle close still holds above key level. Despite massive USD hit yesterday, mkt coud not make a lower low today.
- haOscillator above its central line shows same momentum divergence signal
4H:
- First we need Ichimoku setup to change to neutral. This would happen if price could break and stay above Kijun Sen. A stabiliziation in/above the area marked by purple arrows is required for a high probability entry.
- Next positive signal would be Price above Kijun + EWO turning green. After it a break above 100wma and Kumo could open space for the corrective move.
Trading is all about patience, measuring risk/reward and probabilities, timing, and risk management (most importantly position sizing). If you don't keep and stuck to your systemic rules, you will bleed out like the biggest losers in Vegas casinos! Just question of time. Pushing a buy / sell button based on emotions is easy, but the consequences are terrible.
Learn risk and position management first! Then learn to follow proper rules like a machine! Then start trading.
