CADCHF If at first you don't succeed...
Updated
Hi team!
We broke above SL last week. We are now at the end of an ABC correction within an ABC correction...within an ABC correction!!
Obvious with hindsight, but with the uncertainty of Big CAD news Friday, was hard to call.
I expect the price to drop from where we are.
We can either get a sniper entry with SL just above channel resistance, or a safer stop sell entry with SL just above the recent daily high in case of a double top.
As ever, do not chase if you hit SL. The benefit of sniper entries is that our losses are tiny, and we only require 1 in 15 to hit to be profitable.
Plan your trade - then trade your plan!
Good luck, trade safe.
DrBear.
We broke above SL last week. We are now at the end of an ABC correction within an ABC correction...within an ABC correction!!
Obvious with hindsight, but with the uncertainty of Big CAD news Friday, was hard to call.
I expect the price to drop from where we are.
We can either get a sniper entry with SL just above channel resistance, or a safer stop sell entry with SL just above the recent daily high in case of a double top.
As ever, do not chase if you hit SL. The benefit of sniper entries is that our losses are tiny, and we only require 1 in 15 to hit to be profitable.
Plan your trade - then trade your plan!
Good luck, trade safe.
DrBear.
Trade active
Activated!Personally I am going for the safer option - let's see how we go.
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