Eurcadshortsetup
ORBEX 360°:EURCAD Minor Correction Likely to Drive Prices Down!LONG short-term to complete the complex correction; 1.4700-1.4860
SHORT medium-term, where intermediate wave (3) concludes its course; 1.39120-1.3425
SHORT medium/long-term, where primary wave 3 completes its course - only valid if the primary impulse is not an A,B,C correction; 1.3625-1.3150
SHORT longer-term, where primary 5 completes the cycle degree correction; 1.29
we have a short signal for euro/cadtheres a couple things that i learned from the past month of trading.
i first started to journal around December and my trading changed drastically.
a couple of lessons that i learned were
- trust your analysis. : you need to love your ideas, you need to love your mind. fuck what other people say. you see things differently than other people. THERE IS NO RIGHT OR WRONG ANSWER. this is a probability game.
- set realistic targets and be aware of your emotions when you trade.
- trade in a physical environment where you thrive: i make some shitty decisions when i wake up out of bed and completely not in the zone.GET IN THE ZONE. treat yourself and your trading with care.
EURCADCounter Trend Trade. My idea is to trade the pullback at least to the first bear fractal on the 4H chart. Daily chart shows a big bullish candle and the price may still goes up touching the top line of the resistance level. My psychological resistance level is based on the resistance level in 2016 previously. Why I take this trade is because the inverted hammer is a strong indication of reversal especially when it is on the support and resistance level. Be mindful that counter trend trade is a lot more risky than trading with the trend. This may also be a bear trap. Let see how it goes :)