Looking at this W formation I believe the market will reach this particular TP and during that zone continue to the downside. Link to related idea:
Down-Trend, pay attention to the progress though, it seems market might start to move to the down side quicker than expected. Be patient, but keep on checking this particular pair.
Kind of a late post but nonetheless I think it's a good setup. Enjoy :D
Waiting for a Retest to enter a Scalp Sell, as well as catching the bigger move to the down side on a lower lot size.
Target = 15 pips Lot size = 0.50 ($5) (15 * .5 = $60) R:R = 1.1 (15 pips against 15 pips) Entry = 1.89435💣 Stop Loss = 1.93480 (15 pips) - Take Profit = 1.77320 (15 pips) +
*Timezone is right* *Pattern is right* *SMA is on standby* *Trade's a Go* Someone please wake me up when it triggers!!! #USDCAD #PossiblePullUp #MoneyMood Confidence level: HIGH
* 1M - 15M - 1Hr show a possible long opportunity* * 4Hr - 1D - 1W - 1M show signs of a deep sell* *Trend Stayed on a 5 Point Elliot Wave* *Waiting for a Possible A-B-C Retracement* *Confidence level: medium/high*
*All 8 timezones show a sell* *Possible Head & Shoulders* *Possible Elliot Wave* *Confidence level: medium*
* All 8 timezones show a strong buy * Fibonacci matches green price zones * EUR & GBP news are Mild / for the week * Trend looking like a XABC pattern * Price is coming to the 0.87715 key zone
I believe the chart can speak for itself. It's a simple trade to understand, and I got a good confirmation afterwards when I found that Harmonic Scanner. All in all this will be my 1st trade, and so I wanted the community to speak with me to see where I could improve on this craft .