Forecast Amendment: EUR/CAD Added Into The Mix.
Hi guys and girls.
I've just added EUR/CAD into my Monday Forecast. Initially I thought that price might take until tomorrow to push down into our high value area, but it's reached it a little sooner than I'd anticipated and if price is going to shift and move a little more quickly than we otherwise might anticipate, then at the start of market open on Sunday night, or at at the open of the London Session on a Monday morning (BST) is when it's most likely to do so.
So as professionals we don't use our egos to trade and cling on to what we thought might happen, but we adjust our sails when the wind changes direction.
EUR/CAD:
• If price pushes down to and ideally just below the lower descending trend line of our most recent piece of structure and the last part of the move is corrective, then I'll be looking to get long with a risk entry either after a phase line break, or just above a one hour rejection from it.
• If price pushes down to and ideally just below the lower descending trend line of our most recent piece of structure and it does so impulsively, then I'll be waiting for a convincing impulse back up followed by a tight flag and then I'll be looking to get long with a reduced risk entry on the break of the flag.
• If my entry requirements are not met then I will simply wait until another setup which meets my plan materialises.
• If there's any ambiguity then I will not place a trade on this pair.
I've just added EUR/CAD into my Monday Forecast. Initially I thought that price might take until tomorrow to push down into our high value area, but it's reached it a little sooner than I'd anticipated and if price is going to shift and move a little more quickly than we otherwise might anticipate, then at the start of market open on Sunday night, or at at the open of the London Session on a Monday morning (BST) is when it's most likely to do so.
So as professionals we don't use our egos to trade and cling on to what we thought might happen, but we adjust our sails when the wind changes direction.
EUR/CAD:
• If price pushes down to and ideally just below the lower descending trend line of our most recent piece of structure and the last part of the move is corrective, then I'll be looking to get long with a risk entry either after a phase line break, or just above a one hour rejection from it.
• If price pushes down to and ideally just below the lower descending trend line of our most recent piece of structure and it does so impulsively, then I'll be waiting for a convincing impulse back up followed by a tight flag and then I'll be looking to get long with a reduced risk entry on the break of the flag.
• If my entry requirements are not met then I will simply wait until another setup which meets my plan materialises.
• If there's any ambiguity then I will not place a trade on this pair.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.