Lot Size .05
Stop Loss: 147.943
Entered this trade around 7:30am and price has been ranging since. Seems like it waiting for news to come out which is due in around 1 hour and 20 minutes.
Undecided about closing position because I have a small lot size and price has...
This is a trade idea that follows my previous USDCAD trade posted on February 18th that resulted in 150pips profit. We are now approaching a setup that will be able to do exactly the same!
So previously we saw a inverse head and shoulders pattern form on the supporting trendline to this pair's overall bullish trend (I have highlighted this in yellow). This...
Shooting star with a 71% fibC retracement on the daily which also rejected my resistance key level. Waiting for EMAs to cross facing down, and for the previous low to be broken (price to close below 1.8000) before entering for a short trade, going down to 1.7750 which is a psychological key level, where we find the market often struggling to break.
Looking for a retest of the broken 111.000 zone to take short continuation trades down the the next zone around 110.500
Entry reasons: rejection of the broken zone and pin bars at the 61.8% Fibonacci retracement.
Extended targets at 110.200, the -27.0 Fibonacci extension and previous low.
Bearish market structure has been broken and has completed the retest of the broken zone. We are in an uptrend on the 1H and price should continue up with momentum to the next zone and 38.2% Fibonacci retracement.
We have broken structure support which has now turned resistance. Along with that we tapped the 50% Fibonacci retracement and are now following through on the move down.
Looking for a pullback to retest the zone and then take shorts.
The pair had been trading at a 5 months high on the 21 September 2018 and formed a big bearish shadow Sell stop was activated which was at 146.90 , it got activated on 15th October 2018. The pair is still trading around the 146.90 which makes the short still valid .
Take Profit is at - 140.60
Stop Loss- 149.740