Hi Traders, USDCAD as expected is pushing down I have 2 area's of interest here.
We have a potential counter trend trade opportunity either at our 3rd AB=CD completion marked in pink lines, also with lower entry being an advanced BAT Pattern.
We would also look for a potential pullback into previous structure for another short entry, expecting the trend to continue to the downside.
if we break below the green zone I would expect price to pull back some and then continue further down, this green zone is a decision point and from analysis I feel we may see some action in this zone. Also if we violate our X leg on the BAT next counter trend would be nearing the 1.25000 mark.
Just sitting out on USDCAD at the moment until we get some clear signs on reversal at these levels.
We have a potential counter trend trade opportunity either at our 3rd AB=CD completion marked in pink lines, also with lower entry being an advanced BAT Pattern.
We would also look for a potential pullback into previous structure for another short entry, expecting the trend to continue to the downside.
if we break below the green zone I would expect price to pull back some and then continue further down, this green zone is a decision point and from analysis I feel we may see some action in this zone. Also if we violate our X leg on the BAT next counter trend would be nearing the 1.25000 mark.
Just sitting out on USDCAD at the moment until we get some clear signs on reversal at these levels.
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Seems we got that signal needed, nice consolidation wedge with equal lows, RSI Divergence with news to help the push. Right in that zone I was looking at.
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TP1 hit +192 Closed out for a nice end to the week. Enjoy your weekend traders
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Brilliant trade this one - TP2 hit +306 also managed to take on 3 extra positions within this trade SQ1 +50 SQ2 +57.6 Final sequence SQ3 +144.5 That brings this trade to a total for all Targets 750.1 pips - almost our best sequence trade.
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Doesn't matter how we use our technical analysis - we all have different ways to approach the markets. As long as your analysis is how you see things in the markets. Well just brilliant on this trade. After a period of consolidation small false break out to the upside then this.
managed to get in 2 positions for a nice TP1 of 100 pips.