Knife Catch Long for 50 pips
Updated
Comment
Looking to place stop buy limit on previous 1HR candle high to get in a trade, I see max downside the 50% pitchfork line. Comment
Also very close to backtesting this cyan ascending line. Comment
Managed to come down to that blue trendline. Still waiting on a high break of a previous 1 hour candle. RSI on 4HR is oversold now (bottom indicator). Comment
In my opinion this will be a larger long eventually as gauged by the attached post in the Related Ideas section. It's a big weekly level trade.Comment
Here are CAD futures continuous, possible scenario I see. There is daily decay in currency futures (and all futures) compared to the spot price but same idea. Comment
Zoomed in a little for clarity. Trade active
Broke high of a previous 1HR candle @ 1.3150. In long.Comment
CAM weekly (camarilla) S4 also helped here. Notice that the range this week for USDCAD is perfectly CAM Weekly R4 to S4. Comment
Target @ 1.3200 still in play, moved stop to break even. Half way there.Comment
Moved stop to 1.3170. 20 pips profit no matter what at this point.Comment
2 pips to target... and a back off. Moved stop to 1.3175.Comment
Stop updated to 1.3185.Trade closed: target reached
Comment
1.32000, out.Comment
I will be flipping back short again in about 2 minutes. Stay tuned.Comment
Went short at Weekly CAM R3 and Day CAM R4. See this post:
Find the edge.
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Website: daily-edge.com
Twitter: twitter.com/dailyEdgeGroup
Youtube: youtube.com/c/TheDailyEdgeTradingGroup
Telegram: t.me/mortdiggiddy
Paypal: paypal.me/mortdiggiddy
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