Forgot to post, this position got triggered in and profit target reached all without any intervention on my part. My favorite type of trade hands down.
Live entry on USD/CAD, I usually trade strict limit orders around the Pivot, but this is cause for an exception.
Following up the screenshot earlier showing the trade and why I'm taking a base hit here rather than aiming for a Homerun.
Just a quick video update of what I'm seeing, what I need to see and my indifference on whether or not I take the trade. Honestly, this game is all about taking what you are given and letting go of what you can't control... See the Fastball before hitting it.
USD/CAD Pyramid Reversal Strategy (PRS) Super excited to share a textbook version of this entry. Feel like it's been a while since I've had such a perfect storm of a trade trigger in. Feeling super locked in and ready to ride this wave.
==4 Hour chart posing a threat to the momentum I'd prefer we have for a move like this however, I feel strongly that the Daily chart coming off of a major trend line and Fib level could outweigh the lack in intraday momentum.
Just a matter of timing on this one. Patient because the move will likely be significant.
After yesterday's observation of the Daily trendline, I wasn't able to play the breakout but look to get in safely upon pullback to Pivot Point.
Patiently waiting for a rejection to the major trend line on the Daily.
CHF/JPY is currently on a trendline and I'm going to use the intraday charts to time an entry once we get a rejection candle. I'm unsure as to how the actual entry will play out, but I typically jump in this style trade as soon as I see the rejection candle close rather than looking for a confirmation candle then pullback to pivot intraday.
I'm expecting this to continue to the downside after last weeks rejection of 50% fib. Possible entry on the Pivot Point on H1 chart.