https://www.tradingview.com/chart/oMF0sdyu/?symbol=OANDA%3AUSDCAD
Pair: USD/CAD
Condition
Structure: Day
Entry: 1Hr Time Frame
Bias: Long
On December 27th at 18:00, I observed that we were at the end of a downtrend and in transition to the upside. According to the Wyckoff method, this would be Phase A and B (Multiple secondary tests) playing out. The observation indicates a mechanical breakdown rather than a spring reaction in this instance.
Stop Loss:
Price: 1.31717 (47.5PIPS) = 0.36%
Set below the lowest candle wick and optimized trading zone (OTZ) for confluence.
Entry Price: 1.32192
BOS (Break of Structure) Noticed end of downtrend/mechanical failure and transition to the upside (Wykoff sentiment)
Target: 1.38594
Top of the range (November 1st, 2023)
Pair: USD/CAD
Condition
Structure: Day
Entry: 1Hr Time Frame
Bias: Long
On December 27th at 18:00, I observed that we were at the end of a downtrend and in transition to the upside. According to the Wyckoff method, this would be Phase A and B (Multiple secondary tests) playing out. The observation indicates a mechanical breakdown rather than a spring reaction in this instance.
Stop Loss:
Price: 1.31717 (47.5PIPS) = 0.36%
Set below the lowest candle wick and optimized trading zone (OTZ) for confluence.
Entry Price: 1.32192
BOS (Break of Structure) Noticed end of downtrend/mechanical failure and transition to the upside (Wykoff sentiment)
Target: 1.38594
Top of the range (November 1st, 2023)
Note
"I anticipate a rally/base/drop (re-accumulation phase).
Note
Trade active
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.