USDCAD <SWING TRADE> <LONG>
Good day all,
Starting with some psychological reminders:
When you're not in right state of mind, DO NOT trade.
Ask yourself before placing a trade what emotion are you feeling? Fear of missing out? Overconfidence? Fear of pulling the trigger?
Do figure out why you're feeling this because trading shouldn't be hard. Using too big of a position size? Entering too early? No area of value?
TRADE <LONG>
Technical Analysis
Trade sentiment: Buy
Confluence 1: Price currently within the inner uptrend line and all 3 uptrendline aka the long term trend line, outer trend line and inner trendline is respected.
Confluence 2: Price looking to form simple A B C D structure within the inner uptrend line.
Confluence 3: There is an area of value to take this trade if price breaks the inner uptrendline, look to short towards to next form of support which is the outer trend line as shown in the charts.
Confluence 4: Price approaching fib zone of 71-78%, there is a key level being seen as drawn in the charts "S" and "R" Support and resistance reacting to this level in the past indicating high probability of reaction if price were to hit that level again
Confluence 5: Trendline potential of 4th touch.
Confluence 6: Demand zone coincides with Trendline potential of 4th touch. Demand zone identified through candlestick before the upmove.
Note: Do await price to show indecision aka dojis and momentum slowed aka smaller candle sticks when approaching our key level and confirmation towards to upsize before taking the trade. Do not take trade blindly.
Entry: Within Fib golden zone and near key level - 1.34798
Stop loss: Below 100% of fib retracement - 1.33541
Take profit 1 - TP1 at 27% fib extension - 1.37920
Take profit 2 - TP2 at 61% fib extension - 1.39026
Uncertainties: This is only the technical aspect of this trade, there are many upcoming news that may affect price action.
Good luck all and trade safe!
Regards
Athena
Starting with some psychological reminders:
When you're not in right state of mind, DO NOT trade.
Ask yourself before placing a trade what emotion are you feeling? Fear of missing out? Overconfidence? Fear of pulling the trigger?
Do figure out why you're feeling this because trading shouldn't be hard. Using too big of a position size? Entering too early? No area of value?
TRADE <LONG>
Technical Analysis
Trade sentiment: Buy
Confluence 1: Price currently within the inner uptrend line and all 3 uptrendline aka the long term trend line, outer trend line and inner trendline is respected.
Confluence 2: Price looking to form simple A B C D structure within the inner uptrend line.
Confluence 3: There is an area of value to take this trade if price breaks the inner uptrendline, look to short towards to next form of support which is the outer trend line as shown in the charts.
Confluence 4: Price approaching fib zone of 71-78%, there is a key level being seen as drawn in the charts "S" and "R" Support and resistance reacting to this level in the past indicating high probability of reaction if price were to hit that level again
Confluence 5: Trendline potential of 4th touch.
Confluence 6: Demand zone coincides with Trendline potential of 4th touch. Demand zone identified through candlestick before the upmove.
Note: Do await price to show indecision aka dojis and momentum slowed aka smaller candle sticks when approaching our key level and confirmation towards to upsize before taking the trade. Do not take trade blindly.
Entry: Within Fib golden zone and near key level - 1.34798
Stop loss: Below 100% of fib retracement - 1.33541
Take profit 1 - TP1 at 27% fib extension - 1.37920
Take profit 2 - TP2 at 61% fib extension - 1.39026
Uncertainties: This is only the technical aspect of this trade, there are many upcoming news that may affect price action.
Good luck all and trade safe!
Regards
Athena
Dagangan aktif
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.