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USDCAD - Bullish Bat CB (9Aug2020)Well, if you are trading for some time you won't expect the market to maintain the 45degree appreciation forever, at some point there will be a retracement. If the market break and close below the trendline, I will observe closely on the area of buy zone(blue box) if it is strong enough to hold the support for me to engaged an additional buying opportunity. I'm trading this and have 1 of my target at the daily chart bullish crab setup.(chart at the bottom)
Long
by RaynLim
USDCAD -Bullish Flag PatternWoooo. Finally a break and close above the resistance and this confirms a bullish flag trading opportunity. The Bullish Bat pattern was spotted on the Daily Chart as early as 8 Jun 2020, patience is required when you are trading on a higher timeframe. When we are new in trading, often not we engage 1 trade and look for the next product to trade, in fact by focusing on the winning trade it is important. There are Pros and Cons to it(like any other strategy) Pros: 1. It keeps your focus to 1 pair, the grand trade 2. Engaging the next trading setup trading on the same direction as the first trade you engaged may put your new trade to be at low risk or no risk trading setup as your downside has been covered by the initial trade. Cons: 1. If market reverse after you had engaged your new trade it can wipe out your profits and you aren't in any other positions.
Long
by RaynLim
2
Trade Ideas Analysis: AUDUSD Double TopA check back on the retracement of the double top setup gave an opportunity to engage the trade. At the blue trendline, it will be level I'm observing if a break below and close below the trendline is going to happen, for that I'll leave it to the alert set on trading view. If you do not have an account with a trading view yet, clear your cache, set up a new tradingview account by clicking this link so you will get 30usd worth of coin when you decided to go Pro. www.tradingview.com This might be the trade of the year. Trade has engaged.
Short
by RaynLim
2