strong short usdcad for long term targets 1.1900/1.0700 just Trade with proper money Mangement thanks
# Classic breakout and retest setup. Resistance popped and price came back to test as support and print a hammer (buy signal). If you switch to the daily time frame and look at the previous high its a long way to go, so with 163 pip reward the cost of opportunity of 30 pips sure is worth it! # I have bought at market price 1.34834 # Stop loss 30 pips below the...
I am only looking to buy as I can see the market is currently bullish on the weekly and daily time frame. The last bullish impulse move took place and I want to see if the pullback is a correction by testing the 61.8% fibo level. IF a buy signal prints on the 61.8 retracement level (1.32611) I will open a buy order with my stop below support and targeting...
This is a classic example of the TLS trading system using price action: Trend = down Level = resistance Signal = bearish engulfing (and a hanging man with confirmation) Stop loss @ 1.32199 and Take profit @ 1.30871 30 pip risk for 100 pip reward Dont bet the farm and always exercise healthy risk management :)
FX:USDCAD 1. Price is currently in a rising wedge pattern 2. Awaiting the support level to be broken 3. Be aware of FOMC news later on (could be the catalyst for the move or violate the setup) More details to follow once the setup has been validated.