[As I shift my focus to trading, I will be publishing all my trade ideas going forward publicly as a form of accountability and to allow for proper thought and time to go into each trade. These records will be great to look back on to learn and grow from]
AUD/CAD LONG
[ENTRY: 0.93663]
[STOP: 0.92479]
Here are my reasons for entering a long position on AUD/CAD.
The confluences for my entry:
✓ Price bounced at a key level: 0.9265 (it's had major bounces here before)
✓ Price action created a higher high and a higher low
✓ The 4HR EMA Ribbon flipped positive (price action also pulled back in and tested the up-trending EMA's as support)
✓ The RSI indicator is signalling a possible bullish divergence is coming
I entered a long position with a stop loss below the daily swing low on key level - however I think I could've run with a tighter stock loss below market structure on the 4HR - I just wanted to have some breathing room until the trade runs up. Will move stop tighter and into profit as the trade makes higher lows.
** this is not financial advice **
AUD/CAD LONG
[ENTRY: 0.93663]
[STOP: 0.92479]
Here are my reasons for entering a long position on AUD/CAD.
The confluences for my entry:
✓ Price bounced at a key level: 0.9265 (it's had major bounces here before)
✓ Price action created a higher high and a higher low
✓ The 4HR EMA Ribbon flipped positive (price action also pulled back in and tested the up-trending EMA's as support)
✓ The RSI indicator is signalling a possible bullish divergence is coming
I entered a long position with a stop loss below the daily swing low on key level - however I think I could've run with a tighter stock loss below market structure on the 4HR - I just wanted to have some breathing room until the trade runs up. Will move stop tighter and into profit as the trade makes higher lows.
** this is not financial advice **
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.