A long trade in the making, maybe taken too early.
To maximise success, big SL and big TP around previous RS turned support now.
4H PA should see a rise in price but as I don't want to miss such a drop I have taken the trade earlier based on TDI.
However reversal is not yet confirmed, as we stand still above RSI 80 showing crazy bullish potential.
Let's see EOW how it stands.
To maximise success, big SL and big TP around previous RS turned support now.
4H PA should see a rise in price but as I don't want to miss such a drop I have taken the trade earlier based on TDI.
However reversal is not yet confirmed, as we stand still above RSI 80 showing crazy bullish potential.
Let's see EOW how it stands.
Note
Looks like breakout is confirmed.Note
A good trade on-going, now the question is where to book some profit. I added fib retracement to target some area.I'll probably close some@1.473 if we get there.
4H is showing continuation of bearish strenght. So let's see.
Note
Holding my short.Note
Looking at the global picture, it does look a lot like USDCAD, but with even stronger bullish impulse.Monthly, weekly and daily are all going up. Weekly seems out of control and have a lot of room to explode upside.
It seems the little pullback already occurs this week so I don't expect much next week. On the opening on Sunday, I will look to close it right away in order to minimize loss.
Trade closed manually
I made two mistake in this trade :- entering a bit too late
- not booking any profit
Anyway, unless a strong bounce occur (I doubt it will happen), I suspect EURCAD will either consolidate or breakthrough north.
Note
When looking back at this trade weeks later, I found out that SL was too tight and that TP was right on spot! It's good to review old trade once in a while to improve your entries, SLs and TPs.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.