USDCAD trade from yesterday has been a monster. Stop still intact, never moved my stop, because I had hoped that it punch through the support from the previous day low. Will take what I can get out of it today.
Managed +40 pips from the EURUSD short cross though!
As this method has progressed I have learned to look at 1 time frame higher to confirm my signals. If you look at the 4H you will see that USDCHF last 4H candle bounced off the 50 EMA going south. I would move my stop to BE at the first chance. I could be wrong, but I think the long term trend is still intact on this pair
As this method has progressed I have learned to look at 1 time frame higher to confirm my signals. If you look at the 4H you will see that USDCHF last 4H candle bounced off the 50 EMA going south. I would move my stop to BE at the first chance. I could be wrong, but I think the long term trend is still intact on this pair
Ignored
I agree and its a very low risk trade due to what you told me yesterday. Being so close to resistance I prolly should of passed anyway but just wanted to see if i could scalp a few and possibly get to the next resistance.
I do need to get the rules together and start looking at the next timeframe.
I agree and its a very low risk trade due to what you told me yesterday. Being so close to resistance I prolly should of passed anyway but just wanted to see if i could scalp a few and possibly get to the next resistance.
I do need to get the rules together and start looking at the next timeframe.
Nice one Southbeach. If it closes below the blue line, it should push through that pivot point.
BUT, notice how the 50ema is LOOMING just below the blue line on the 1H - If it closes below blue line I think I would set my sell stop at spread minus 3 pips from the 50 ema
I have a small favor to ask of you guys (and gals). Can you please post charts when you make an analysis? It would help other users of the forum to visualize what you are talking about!
Nice one Southbeach. If it closes below the blue line, it should push through that pivot point.
BUT, notice how the 50ema is LOOMING just below the blue line on the 1H - If it closes below blue line I think I would set my sell stop at spread minus 3 pips from the 50 ema
The 50EMA can keep you out of trouble as well!
Close of the 4H could very well continue north
Ignored
yes, there is a good chance it is going down especially if it crosses the trendline you see in that chart. The eur isn't doing great tonight.
"EDITING" also there is supporot level at 0.89 we have to watch for that Support to cross it.
Regards,
