This short setup is based on unconvetional trading strategy using the long and short covering. In particular, after a "trick" formation the market rallied and reached "max fake" level (25% extension above the "trick"), after showing some weaknes (lower high) the market should fall down (scenario 1), or form a fake breakout above the previous high and then fall down (scenario 2).
This trading idea is based on a methodology used within SMB Capital Forex and Futures Training Program. For more information see smbtraining.com or watch my youtube channel: youtube.com/watch?v=m1sg5frdVlU
Comments
justatrader
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USDCAD Formed a H&S pattern confirming the target at 0.97 region (your T2). Good call. Sad I didn't short this when your idea was posted.
williamfossati
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hi...heikin ashi confermed bullish trend, but attention falling trend line as resistance on daily chart.
BBFX
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I am LONG on this from 1.05185 , with 1.075 being my target, or there abouts. RSI is suggesting more Bullish action!! Just my opinion!!