Quick update regarding the trade on UC...
Added TP lines which are based on pivot points,
Depending on how the trade 'works out' on the hourly I might collapse it early..
or it will fail...whichever comes first :)
SL will be adjusted according to the TP lines,
When profit = SL then I will move the SL to BE
entry #4 on USDCAD,
so far 2 wins and 1 loss...
The last failed trade was due to a high retracement on the H1.
On the Daily two indecision candles ('stars') formed probably because
of month's end...
Expectation is a further drop before price going back up..
TFC is red
3-1-2 formation on the H4 seems like a high probability trade
As suspected (or rather 'hoped') UsdCad did continue downwards
towards the Imbalance..
We are at months end so tomorrow a new setup will be formed..
points for the beginning of June
* Check continuity
* Check interest rates, covid developments in China
(* BTC ?...new reversal?)
Still in the trade,...however I would have closed it after pp-3 or pp-4
I'm letting it run for curiosity purposes only..
Stop loss might need some work...some say set it at the 50% of the candle but
that may be too tight, i nearly got stopped out during the retracement..
in any case...prospects look good....
apologies for not posting the full strategy just yet,...
