$EURCAD - It's brewing!
I've really enjoyed the long side of $eurcad
Technically we are making a inverse H&S
We can even go to lower time frame and see that in a perfect measure. Now when I seek to trade patterns, firstly it's important to see break out as well as a great R/R. I would prefer a pull back towards areas of: 1.36 - 1.35 half areas and then perhaps execute first position if we are to break towards upside of resistance we are currently at in GREEN I have drawn 2 target areas I will be looking to scale out in. Now that's way I trade it isn't for everyone. Stop below where the 1.32 half areas giving it enough room and if it is to hit the stop then the pattern would be invalid to me and I would then re plan this trade.
Don't forget to trade your own trade plan.
Have a great week ahead,
Trade Journal
I've really enjoyed the long side of $eurcad
Technically we are making a inverse H&S
We can even go to lower time frame and see that in a perfect measure. Now when I seek to trade patterns, firstly it's important to see break out as well as a great R/R. I would prefer a pull back towards areas of: 1.36 - 1.35 half areas and then perhaps execute first position if we are to break towards upside of resistance we are currently at in GREEN I have drawn 2 target areas I will be looking to scale out in. Now that's way I trade it isn't for everyone. Stop below where the 1.32 half areas giving it enough room and if it is to hit the stop then the pattern would be invalid to me and I would then re plan this trade.
Don't forget to trade your own trade plan.
Have a great week ahead,
Trade Journal
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