USDCAD Support and Resistance Trading Strategy
STRATEGY: Support & Resistance Trading Strategy
DETAILS
Analysis TF: 4H/1D
Focus TF: 1H
SL: Just above Bearish Engulfing (0.5ATRC on 1H TF)
AOV: Resistance Zone
1D Analysis
MC: Sideways - Price bouncing inside Horizontal Support and Resistance
4H Analysis
Price struggles to create a new High, forming a Bearish Engulfing (not yet closed - but it is a high momentum candlestick)
1H Analysis
ET: Bearish Engulfing - Confirmed Bearish Engulfing occurred on 1H TF.
Will scale in if price bounced on Support or on 10EMA, 83/100EMA or 200EMA at 1H TF
Will scale in if price bounced on Support or on 10EMA, 83/100EMA or 200EMA at 1H TF
Note: This post is my personal journal/opinion only. Please trade at your own risk.
#ExcellentTrade #BearishEngulfing #SupportandResistance #MovingAverage
DETAILS
Analysis TF: 4H/1D
Focus TF: 1H
SL: Just above Bearish Engulfing (0.5ATRC on 1H TF)
AOV: Resistance Zone
1D Analysis
MC: Sideways - Price bouncing inside Horizontal Support and Resistance
4H Analysis
Price struggles to create a new High, forming a Bearish Engulfing (not yet closed - but it is a high momentum candlestick)
1H Analysis
ET: Bearish Engulfing - Confirmed Bearish Engulfing occurred on 1H TF.
Will scale in if price bounced on Support or on 10EMA, 83/100EMA or 200EMA at 1H TF
Will scale in if price bounced on Support or on 10EMA, 83/100EMA or 200EMA at 1H TF
Note: This post is my personal journal/opinion only. Please trade at your own risk.
#ExcellentTrade #BearishEngulfing #SupportandResistance #MovingAverage
Trade active
Price moving almost like as we forecast.Trade closed: target reached
CLOSING:Note
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.