GBPAUD wedge breakWhat we are looking for?
Looking for break no matter on which way but main trend is still Bullish and we havent hit resistance zone yet! So both sides are open
Entry style:
I would suggest after a trendline break entering with D1 or H4 123.
Trade management
Split trade into 3 parts. Trail last position as long as possible! RR 1 = 1 : 1.......RR2 = 1 : 2........RR3 = 1 : trail
Money mangement
Risk max max 2% on the whole trade.
Tradingyo
USDCAD SHORT SWING TRADEUsd/cad just broke the channel after hitting major PRZ (potential reversal zone) on weekly. Now we are waiting for pullback back to the previous channel low. Combined with fibonacci retracment 50 and 61.8
This could mean the first strong setup to the down side after long time.
It is important to catch first setups of the new trend and it might go down so fast as it was going up in 2014.
Entry :
D1 or H4 candle pattern (pin bar, inside, engoulfing)
or double top...divergence on lower timeframe, maybe harmonic pattern at the top ....
Everything is explained on chart itself!
Best Regards
TradingYo