Michael_Aldan

Michael_Aldan

Quick update regarding the trade on UC... Added TP lines which are based on pivot points, Depending on how the trade 'works out' on the hourly I might collapse it early.. or it will fail...whichever comes first :) SL will be adjusted according to the TP lines, When profit = SL then I will move the SL to BE

Michael_Aldan

entry #4 on USDCAD, so far 2 wins and 1 loss... The last failed trade was due to a high retracement on the H1. On the Daily two indecision candles ('stars') formed probably because of month's end... Expectation is a further drop before price going back up.. TFC is red 3-1-2 formation on the H4 seems like a high probability trade

Michael_Aldan

As suspected (or rather 'hoped') UsdCad did continue downwards towards the Imbalance.. We are at months end so tomorrow a new setup will be formed.. points for the beginning of June * Check continuity * Check interest rates, covid developments in China (* BTC ?...new reversal?)

Michael_Aldan

Still in the trade,...however I would have closed it after pp-3 or pp-4 I'm letting it run for curiosity purposes only.. Stop loss might need some work...some say set it at the 50% of the candle but that may be too tight, i nearly got stopped out during the retracement.. in any case...prospects look good.... apologies for not posting the full strategy just yet,...

Michael_Aldan Updated 

Strategy based on an 'existing' strategy, this is basically a BOS strategy but with extra confirmation