Bullish Butterfly At Major Structure on USDCAD!As I am getting ready for my live trading room, I came across this very nice butterfly pattern that will complete at this major structure level. Now I normally don't trade butterflies, due to the fact that they complete below X, and this is where i place stops on the other advanced patterns I trade.
But when I get a setup like this, well now I have a structure zone to place my stops under.
This pattern will potentially complete @ 1.3021, which is right at the lows of this major structure zone. Minimum stops should be below the structure zone, and even if you want to put your stops below 1.30000, you will still have an excellent risk/reward ratio for both target 1 and target 2. As always, follow your trading plan.
If you would like to join me in the live trading room, here is the link: www.youtube.com
Good Luck and Good Trading!
Livetrading
Crude USOIL WTI RSI bullish divergence H1 to 43$ short-term LONGCrude USOIL WTI RSI bullish divergence H1 to 43$ short-term
We might see just a little bit more of decline first, as the RSI at 53.02 pointing downwards indicates.
Mid-term the downward momentum prevails considering the so-called "production glut" propaganda.
Take care!
Sinatra FX
TWITTER: twitter.com
GBPUSD third time lucky ;)Third attempt today to place some winning trades.
Thankfully this time I seem to have taken the peak and should be good from here.
Some basic technical and my trade lines drawn on.
Lost $250 ish today. Still working with 50k lot size.
Aiming for a large level profit once we touch down on green again :)