USD/CAD SHORT - Shooting Star/Trend Line Bounce, HL/LH
The pair has been making HH's and LH's on the 1HR chart, it has also been bouncing from a 1HR descending trend line and has formed a shooting star on the 1HR chart. However there has been a 4HR hammer and bullish engulfing candle, which says the pair will go long. But the Daily shows a shooting star and bearish reversal, and the monthly has formed an indecisive doji last. And finally, the Weekly fib if drawn, shows that the price action currently is bouncing from the 0.5 level and going to the downside. Slightly mixed confluence, however, i am confident it will reverse.
TP @ 1.31972
SL @ 1.32769
R/R @ 3.55
TP @ 1.31972
SL @ 1.32769
R/R @ 3.55
Trade fermée: ordre d’arrêt atteint
Chased the trade gain, didn't pay attention to H4 price actionNote
Should have waited to the H4 close, took the trade, and this would have been a nice win.
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Clause de non-responsabilité
Les informations et les publications ne sont pas destinées à être, et ne constituent pas, des conseils ou des recommandations en matière de finance, d'investissement, de trading ou d'autres types de conseils fournis ou approuvés par TradingView. Pour en savoir plus, consultez les Conditions d'utilisation.