USDCAD Sell Position
Updated
Trade Journal Entry
USDCAD Sell
Time Frame:
- Daily (FVG Identification)
- 4-hour (Entry Signal)
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1. Trend Confirmation:
Identified a Change of Character (COC) on USDCAD by breaking the previous low at 1.3600 indicating a reversal in market sentiment and confirming a bearish trend.
2. Fair Value Gap (FVG):
On the daily chart, noted a Fair Value Gap between 1.3640 and 1.3690. This gap is a potential reversal zone where the price has revisited, providing a trading opportunity for sell position.
3. Entry Signal
On the 4-hour chart, an engulfing bearish candle formed after touching the identified FVG zone. This pattern aligns with the bearish trend and indicates a potential continuation of the downtrend.
4. Trade Execution
Entry Price: 1.3595
SL: 1.3655 (above closest high)
TP1: 1.3200 (low Jan 2024)
TP2: 1.3125 (1.618 Fibonacci)
Risk-Reward Ratio (RRR): 1:7 - 1:8.5
Monitoring: Check-in daily at 8 AM & 8 PM
5. Outcome:
Exit Price:
Profit/Loss: pips
Summary: The trade is based on a bearish trend confirmed by the break of the previous low, supported by the bearish engulfing pattern within the daily FVG.
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Linarto Wijaya
USDCAD Sell
Time Frame:
- Daily (FVG Identification)
- 4-hour (Entry Signal)
---
1. Trend Confirmation:
Identified a Change of Character (COC) on USDCAD by breaking the previous low at 1.3600 indicating a reversal in market sentiment and confirming a bearish trend.
2. Fair Value Gap (FVG):
On the daily chart, noted a Fair Value Gap between 1.3640 and 1.3690. This gap is a potential reversal zone where the price has revisited, providing a trading opportunity for sell position.
3. Entry Signal
On the 4-hour chart, an engulfing bearish candle formed after touching the identified FVG zone. This pattern aligns with the bearish trend and indicates a potential continuation of the downtrend.
4. Trade Execution
Entry Price: 1.3595
SL: 1.3655 (above closest high)
TP1: 1.3200 (low Jan 2024)
TP2: 1.3125 (1.618 Fibonacci)
Risk-Reward Ratio (RRR): 1:7 - 1:8.5
Monitoring: Check-in daily at 8 AM & 8 PM
5. Outcome:
Exit Price:
Profit/Loss: pips
Summary: The trade is based on a bearish trend confirmed by the break of the previous low, supported by the bearish engulfing pattern within the daily FVG.
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Linarto Wijaya
Trade active
Active
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