I also took this mate but with very low risk
DislikedI took the long USD/CAD this morning at 1.0242
- stop at 1.0200 (low of last bars)
- target at 1.0340 (61.8 retracement of the rally)
Let's see how it goes.
How are you managing the trade so far? thxIgnored
Yes got stopped on the USDCAD long. Let's try again
Took long on EU at 1.2720
- Price not far from 5 SMA
- Price bounced at 0.786 and breaching 0.618
- Bullish cross on stoch and bullish divergence
The 4H candle closes in 1 hour.
Stop at swing low: ~1.2650
DislikedHi and welcome to the thread.
DislikedAll syatems are go, if the AU gives me a good entry point, which is looking more doubtful the way the latest 1h candle is shaping up! Here is the chart.Ignored
DislikedI am out of that move now, -20pips, looks like the 9000 level is holding ground for now!Ignored
DislikedHere is a nice tool (indicator) that draws the fibo levels with prices.
After you decide by yourself if the major trend is Long or Short, you change the trend in the indicator to show the pattern to TRUE and the opposite to FALSE.
I.e: if the trend is LONG, you change the SHORT option to FALSE.
"Draw SHORT pattern" = FALSE
TRUE is the default.
You also need to decide what is the minimum "range" of the move which you are looking to be retraced.Ignored