Hi,
another first post around here. I have been studying for a while now and am taking my first steps with this system.
I initiated a trade on USDCAD just now. I took it since I think there are alot of things coming together in the same spot at the moment. We are just above previous week high, bounced on channel bottom and historical support level, strong uptrend on higher TF, nice swings inside channel. I have two TP levels, TP1 close to weekly fib 161 level and TP2 might be a little off behind a support level in retrospect.
The only thing bothering me is that its friday afternoon soon. How do you handle your trades over the weekend? Do you close out H4 trades or do you let them run?
Do you see any other things that I should consider here? Did anyone else consider this trade?
I really appreciate the good spirit and super helpful people in this thread! You are great!
hson
sweden
another first post around here. I have been studying for a while now and am taking my first steps with this system.
I initiated a trade on USDCAD just now. I took it since I think there are alot of things coming together in the same spot at the moment. We are just above previous week high, bounced on channel bottom and historical support level, strong uptrend on higher TF, nice swings inside channel. I have two TP levels, TP1 close to weekly fib 161 level and TP2 might be a little off behind a support level in retrospect.
The only thing bothering me is that its friday afternoon soon. How do you handle your trades over the weekend? Do you close out H4 trades or do you let them run?
Do you see any other things that I should consider here? Did anyone else consider this trade?
I really appreciate the good spirit and super helpful people in this thread! You are great!
hson
sweden