Predicting CADCHF to go up higher
Based on the S&R level (based on my cat's experience seeing charts), it's going to go up. I'm targeting the next daily resistance area and this could go longer than 1-2 weeks. Looks like there's no clear trend, it's just consolidating at these levels.
Note: This week, I'm trying up again the simple S&R method, trying not to put too much things on chart, and focusing on what I think it's going to work. On the chart, I plot 2 simple S&R area, identify the trend, then take trade of 1:2 RR with the trend, just set and forget. As simple as that.
However, here's my action next:
Note: The fact that my winnings have the similar chance of losings, I just need to make money a little over to be profitable.
Note: This week, I'm trying up again the simple S&R method, trying not to put too much things on chart, and focusing on what I think it's going to work. On the chart, I plot 2 simple S&R area, identify the trend, then take trade of 1:2 RR with the trend, just set and forget. As simple as that.
However, here's my action next:
- If it goes to 1:1 RR, I'll take partial profit, and then set BE (so it's risk-free trade, in fact, securing 1R in the pocket).
- I will not monitor losing trades.
Note: The fact that my winnings have the similar chance of losings, I just need to make money a little over to be profitable.
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