$USDCAD LONG - 200 pips Exiting Weekly Order Block from December
First off, interest rates just dropped a tremendous level and the Commitment Of Traders show a lessening of shorts, meaning they're about to long this pair. See the indicators in the original, or I've made them larger here.
The USDCAD had a weekly order block from December than it re-entered at the beginning of September.
Using the nearest Institutional level, 1.28000, outside order block and the nearest swing high, drawing a fib we actually could've caught the perfect entry at the 70.5% retracement for that September low.
But that move is gone and it's time for the next one. Fib from that low to the nearest high and it retraced back to the 70.5% fib level as well as a bullish order block was at that exact same spot to the left.
Best entry is now or at 1.31162 give it a 30-40 pip stop loss and aim for the old high or the nearest institutional level at 1.34000.
The USDCAD had a weekly order block from December than it re-entered at the beginning of September.
Using the nearest Institutional level, 1.28000, outside order block and the nearest swing high, drawing a fib we actually could've caught the perfect entry at the 70.5% retracement for that September low.
But that move is gone and it's time for the next one. Fib from that low to the nearest high and it retraced back to the 70.5% fib level as well as a bullish order block was at that exact same spot to the left.
Best entry is now or at 1.31162 give it a 30-40 pip stop loss and aim for the old high or the nearest institutional level at 1.34000.
Trade aktif
20+ pips so far. A pull back happening but partials were taken Trade aktif
Two Targets Reached. Still have room for a third, and a fourth depending on how I want to dole out the profits.Catatan
100 pips plus so far Catatan
60 for target 1, another 42 for target two. Set entry to 10 pips above break even.Trading ditutup: stop tercapai
Made decent gains. Will be looking for a new entry on this.
You're either trading with Smart Money Theory or your just burning your money money. Believe me, I've been there.
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You're either trading with Smart Money Theory or your just burning your money money. Believe me, I've been there.
Pernyataan Penyangkalan
Informasi dan publikasi tidak dimaksudkan untuk menjadi, dan bukan merupakan saran keuangan, investasi, perdagangan, atau rekomendasi lainnya yang diberikan atau didukung oleh TradingView. Baca selengkapnya di Persyaratan Penggunaan.