https://www.tradingview.com/chart/oMF0sdyu/?symbol=OANDA%3AUSDCAD
Pair: USD/CAD
Condition
Structure: Day
Entry: 1Hr Time Frame
Bias: Long
On December 27th at 18:00, I observed that we were at the end of a downtrend and in transition to the upside. According to the Wyckoff method, this would be Phase A and B (Multiple secondary tests) playing out. The observation indicates a mechanical breakdown rather than a spring reaction in this instance.
Stop Loss:
Price: 1.31717 (47.5PIPS) = 0.36%
Set below the lowest candle wick and optimized trading zone (OTZ) for confluence.
Entry Price: 1.32192
BOS (Break of Structure) Noticed end of downtrend/mechanical failure and transition to the upside (Wykoff sentiment)
Target: 1.38594
Top of the range (November 1st, 2023)
Pair: USD/CAD
Condition
Structure: Day
Entry: 1Hr Time Frame
Bias: Long
On December 27th at 18:00, I observed that we were at the end of a downtrend and in transition to the upside. According to the Wyckoff method, this would be Phase A and B (Multiple secondary tests) playing out. The observation indicates a mechanical breakdown rather than a spring reaction in this instance.
Stop Loss:
Price: 1.31717 (47.5PIPS) = 0.36%
Set below the lowest candle wick and optimized trading zone (OTZ) for confluence.
Entry Price: 1.32192
BOS (Break of Structure) Noticed end of downtrend/mechanical failure and transition to the upside (Wykoff sentiment)
Target: 1.38594
Top of the range (November 1st, 2023)
Comment:
"I anticipate a rally/base/drop (re-accumulation phase).
Comment:
Trade active: