HELLO GUYS IM THINKING THIS COULD BE A GREAT OPPORTUNITY TO DISCUSS EURCAD AND THE GREAT OPPORTUNITY OF A LONG TERM TRADE.
LOOK AT THE CHART YOU CAN EASILY SEE MAIN TREND (AND THE POSSIBILITY OF A RETRACEMENT IF WE PASSED THE ORANGE TREND). Also, I believe swiss gov. wont let this go that far. This week movement could be a gov. transaction.
I ALREADY HAVE SOME TRANSACTIONS OPEN AS YOU CAN SEE ON MY ACCOUNT:
avg 1.3650.
Im hedging, so I optimize this long term trade, because we havent break the main trend *BEAR*. I need to be sure that we are breaking that line so my hedge is not that much.
We have two trends on the chart. The main trend is the ORANGE and the momentum trend that started on feb-26 that gives us the RED trend.
if you look the PA on the touch of those trendlines (on the support "up line") the rebound is quick towards 1.33. This time it wasnt that quick and the week closed above the momentum trendline that gives us the probability to go and hit the ORANGE line at 1.39-1.3920. Only after breaking that ORANGE line I would now for sure we are in a change of a MAIN TREND and ill stop doing that much hedging and start adding longs on a daily basis.
I see a possible formation of a INVERTED H&S on 4hr tf where i believe we are going to hit 1.3740-13690. That shoulder would give the pair momentum so we can break and retest that ORANGE line.
TRADING PLAN:
OPENED TRANSACTIONS:
BOUGHT 1.3650 TP SL OPEN
SOLD 1.3784 TP 1.3730 (SEE THE PRICE ACTION THERE) SL OPEN
ORDERS TO BE OPENED:
BUY
1.3720-1.3690 SMALL
1.3630-1.36 DOUBLE THE OTHER
SELL
1.39 HEDGE SL 1.3933 + 2 LOTS.
LETS SEE WHAT HAPPENS
LOOK AT THE CHART YOU CAN EASILY SEE MAIN TREND (AND THE POSSIBILITY OF A RETRACEMENT IF WE PASSED THE ORANGE TREND). Also, I believe swiss gov. wont let this go that far. This week movement could be a gov. transaction.
I ALREADY HAVE SOME TRANSACTIONS OPEN AS YOU CAN SEE ON MY ACCOUNT:
avg 1.3650.
Im hedging, so I optimize this long term trade, because we havent break the main trend *BEAR*. I need to be sure that we are breaking that line so my hedge is not that much.
We have two trends on the chart. The main trend is the ORANGE and the momentum trend that started on feb-26 that gives us the RED trend.
if you look the PA on the touch of those trendlines (on the support "up line") the rebound is quick towards 1.33. This time it wasnt that quick and the week closed above the momentum trendline that gives us the probability to go and hit the ORANGE line at 1.39-1.3920. Only after breaking that ORANGE line I would now for sure we are in a change of a MAIN TREND and ill stop doing that much hedging and start adding longs on a daily basis.
I see a possible formation of a INVERTED H&S on 4hr tf where i believe we are going to hit 1.3740-13690. That shoulder would give the pair momentum so we can break and retest that ORANGE line.
TRADING PLAN:
OPENED TRANSACTIONS:
BOUGHT 1.3650 TP SL OPEN
SOLD 1.3784 TP 1.3730 (SEE THE PRICE ACTION THERE) SL OPEN
ORDERS TO BE OPENED:
BUY
1.3720-1.3690 SMALL
1.3630-1.36 DOUBLE THE OTHER
SELL
1.39 HEDGE SL 1.3933 + 2 LOTS.
LETS SEE WHAT HAPPENS
Attached Images (click to enlarge)
