Here's a trade I took today on the USD/CAD.
I am choked for time due to academic pressures and stress and couldn't put this up on the blog as a step by step managed trade.
But here's the final result:
Took full profit at 2R (Just above the 1.000 BRN and roughly at the daily HCR level.
Notice the wick on the fake out bar isn't very authoritative (not long enough) compared to the momentum with which price rushed into the HHR level. This was always going to be an above normal risk trade. Its important to not let go off our James16 basics of price action. That wick was clearly weak and not a sure footed stance of a heavy block of sell orders coming in. What made it very playable though was clearly the location.
I am choked for time due to academic pressures and stress and couldn't put this up on the blog as a step by step managed trade.
But here's the final result:
Took full profit at 2R (Just above the 1.000 BRN and roughly at the daily HCR level.
Notice the wick on the fake out bar isn't very authoritative (not long enough) compared to the momentum with which price rushed into the HHR level. This was always going to be an above normal risk trade. Its important to not let go off our James16 basics of price action. That wick was clearly weak and not a sure footed stance of a heavy block of sell orders coming in. What made it very playable though was clearly the location.
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