USD/CAD Pyramid Reversal Strategy (PRS) Super excited to share a textbook version of this entry. Feel like it's been a while since I've had such a perfect storm of a trade trigger in. Feeling super locked in and ready to ride this wave.
A move back towards previous Daily trendline after it's break last week.
==4 Hour chart posing a threat to the momentum I'd prefer we have for a move like this however, I feel strongly that the Daily chart coming off of a major trend line and Fib level could outweigh the lack in intraday momentum.
Just a matter of timing on this one. Patient because the move will likely be significant.
After yesterday's observation of the Daily trendline, I wasn't able to play the breakout but look to get in safely upon pullback to Pivot Point.
Patiently waiting for a rejection to the major trend line on the Daily.
CHF/JPY is currently on a trendline and I'm going to use the intraday charts to time an entry once we get a rejection candle. I'm unsure as to how the actual entry will play out, but I typically jump in this style trade as soon as I see the rejection candle close rather than looking for a confirmation candle then pullback to pivot intraday.
I'm expecting this to continue to the downside after last weeks rejection of 50% fib. Possible entry on the Pivot Point on H1 chart.
I'm expecting this to continue to the downside after last weeks rejection of 50% fib. Possible entry on the Pivot Point on H1 chart.
FOREXCOM:NZDCAD 50EMA on the Daily support.