ECAD short idea
Updated
After Friday's giant sell off, ECAD has started the week off trading correctively.
A possible short scenario can take place with price retesting a zone of S&R between 1.55543 and 1.55424.
2 plays are possible from this zone.
A more aggressive entry would be placing a limit order at this zone and a more conservative entry would be to wait for PA to provide confirmation before a market order is placed.
I'm undecided on which way I would like to play this. I might enter half my risk as a limit order and enter the other half if PA confirms.
Target would be placed around 1.54650
A possible short scenario can take place with price retesting a zone of S&R between 1.55543 and 1.55424.
2 plays are possible from this zone.
A more aggressive entry would be placing a limit order at this zone and a more conservative entry would be to wait for PA to provide confirmation before a market order is placed.
I'm undecided on which way I would like to play this. I might enter half my risk as a limit order and enter the other half if PA confirms.
Target would be placed around 1.54650
Trade active
ECAD has triggered our limit entry. Only half my risk was placed at the limit.I entered the remaining half after a 1H bearish pinbar formed confirming a bearish move.
Price was very close to hitting SL on this trade.
Comment
Projected RR:1:3.08
Comment
ECAD has hit 1R, I've closed half my position and moved stops to BE.Comment
Current situation on ecad. Stop moved to 1R
Closed another portion of the trade last night at 2R
Trade closed: stop reached
Remaining position has been stopped in profitComment
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