EURCAD_Short the bearish wedge_1 hour TF
Updated
Bearish wedge breakout. Going to short the pin bar.
Setup bar H - 1.49512 L - 1.49200 Difference of .00312.
Entry 1% short at a break of the low, 1.49195. Stop at 1.49519. Difference of .00324 pips.
T1 - 1.48871
T2 - 1.48547.
Since I'm only risking 1% I'm only trading to T1, if I could risk 2% I'd put 1% on T1 and trail the other 1% to T2.
Good luck!
Like/Comment/Follow TElphee! – Self-made Technical Analyst. Certification not held but desired after college. 5-year market enthusiast with experience in Forex, Futures and Cryptocurrencies. Full-time college student majoring finance working full time with a small dealership in western VA. Trading View is my trading journal. I’m posting a series of live trades and documenting them in real time. Share your opinion, but remember it is only an opinion. I’m very eager to learn! Find TElphee on LinkedIn/Twitter/Trading View
Disclaimer: Oanda data shown. This information is my own opinion and should not be considered investment advice. Please consult a professional before trading.
Setup bar H - 1.49512 L - 1.49200 Difference of .00312.
Entry 1% short at a break of the low, 1.49195. Stop at 1.49519. Difference of .00324 pips.
T1 - 1.48871
T2 - 1.48547.
Since I'm only risking 1% I'm only trading to T1, if I could risk 2% I'd put 1% on T1 and trail the other 1% to T2.
Good luck!
Like/Comment/Follow TElphee! – Self-made Technical Analyst. Certification not held but desired after college. 5-year market enthusiast with experience in Forex, Futures and Cryptocurrencies. Full-time college student majoring finance working full time with a small dealership in western VA. Trading View is my trading journal. I’m posting a series of live trades and documenting them in real time. Share your opinion, but remember it is only an opinion. I’m very eager to learn! Find TElphee on LinkedIn/Twitter/Trading View
Disclaimer: Oanda data shown. This information is my own opinion and should not be considered investment advice. Please consult a professional before trading.
Note
price broke out in the wrong direction, order did not get filled luckily. Price did proceed to interact with the trend line drawn from the wedge. Interesting.Note
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