USD / CAD SHORTDisclaimer: Any of the content presented on my page showing my analysis of the market is just that, an analysis which means this is my personal opinion of where the price is going to go. Do not by any means take this simple analysis for a reason to enter a trade, I am not presenting these analyses as a form of signals, simply a way to get feedback and opinions from others on how my trades look. Take this trade at your own risk, but know forex is a risky market that you can make a lot of money but can lose that money or even more just as fast, enter these markets with your own risk and good luck with your trading :).
4 Hour Analysis:
The price has been going in a down trend on the daily and the four hour. Price had stalled out and started to range but did not have a problem making lower lows throughout this range and has also showed rejection to the upside while making moves to the downside. All I would need for a trade at this point is confirmation on a lower time frame and I would be risking one percent of my total capital.
1 Hour Analysis:
Price was about to breakout of this range so I got ready waiting for a strong bearish close below the lows of the range. If price breaks below these lows but only by a few pips, that would not be enough confirmation for me to get into this trade, I want a strong candle to the downside before I even consider getting into this trade.
Risk Management:
Stop risking your entire account on one single trade, this is going to lead to a massive loss adventually and even if you are on a big winning streak all it takes is for one trade to go south and your account could be blown in one trade. Keep your risk management in check and stay consistent, slow down and set a set amount to risk on every trade, for me I risk one percent of my total capital on every trade NO MATTER WHAT or how juicy the trade is or could be. Have a set amount cause in the long term a consistent risk amount will really reveal your edge in the market and put it to work. Look, everyone is different in the way they trade but so everyone is going to risk more or less depending on the person and the kind of strategy, see what works best for you and stick to it.
Good luck to you all this week, I hope you have an amazing trading week and please let me know if you have any questions and I can do my best to help you out.
Thanks again,
KeySlot.
