Inside bar continuation move to the downside. Price would have to start heading down immediately sometime next week for me to stay in the trade. If the overall longer-term momentum is down, then it should take off. This is ignoring the daily chart action we had last week which showed a strong push up. Many people will wait for a strong signal on the Daily or 4H,...
It's an alignment of three: trader's trap, S/R line and fib retracement.
Waiting for a pullback into the previous daily bar to go long. This is another trader's trap working off S/R, like the cadjpy long trade. We will see which one works or if both fail.
Structure break with a retest coming off of longer term S/R zone and peak reversal. R:R is what makes it interesting.
Looking for losers that become winners and hit anywhere between 4:1 to 10:1.
I mentioned on another site that I'm in a usdcad weekly short (as illustrated) but what people don't know is that I'm a swing trader that uses something similar to scalping risk management techniques. It's really hard to explain but very simple to do. I could not teach the technique to anyone because it's the way I learned to interact with the market over many...
This short is working off of basic structure, S/R and a determining factor may be where the next 4H candle settles.
This trade doesn't exist yet. It would be a larger peak reversal coming off a smaller H&S that's working off the monthly. It's a big money trade if the 4H bar closes in the right position. Also, you'll only make money on it if you hold or get out at the right time as CAD news is released. Some people don't care about news except NFP or interest/bank big ones....
Short game, looking to reach the point at which the double top dropped with some strength. 1H less reliable than 4H so on and so on even though fractal in nature.
This is enough evidence to support a long position and recently I've become aware of a slight advantage when entering on the reversal bar in a strong uptrend or downtrend because if price is going to move up in our direction then the small reversal bar is something of a pause before a larger move takes place.
From a large double top to forming one lower low after another, continuing to a drop off point that might occur because of one outside bar. Unlikely, but possible. A structural support area that may give way.
There is enough evidence to point out a buy for this pair, .78 fib is the last line of defense, so if supported great R:R, plus TL and trader's trap on the daily, peak reversal on the 4H and a new structure high that hasn't been tested yet. Or it could drop like a rubber chicken kicked off the empire state building.
This pair is wedging out and there might be enough room to get 1:2RR before reaching the lower light blue TL.
There is a nice 12H inside bar layer with a short trap high coming off longer term structure, looking for continuation down.
Reversal in play, ignore 4H bar, going based on longer term weekly to daily structure.
Been waiting for price to come up a bit and now is the time to short, for me anyway, to get best R:R scenario.
Looking for a 1:3RR if price breaks the pin high, target that blue long-term trend line.
Wanted to get in at the horizontal line but missed it, now at break even because passed through some minor structural levels, looking for a strong push down and for the 4H bear bar to hold, then might give trade more room to work out. All based on what happens when and at what time.