USDCAD Support and Resistance Trading Strategy
Updated
STRATEGY: Support & Resistance Trading Strategy
DETAILS
Analysis TF: 4H/1D
Focus TF: 1H
SL: Just above Bearish Engulfing (0.5ATRC on 1H TF)
AOV: Resistance Zone
1D Analysis
MC: Sideways - Price bouncing inside Horizontal Support and Resistance
4H Analysis
Price struggles to create a new High, forming a Bearish Engulfing (not yet closed - but it is a high momentum candlestick)
1H Analysis
ET: Bearish Engulfing - Confirmed Bearish Engulfing occurred on 1H TF.
Will scale in if price bounced on Support or on 10EMA, 83/100EMA or 200EMA at 1H TF
Will scale in if price bounced on Support or on 10EMA, 83/100EMA or 200EMA at 1H TF
Note: This post is my personal journal/opinion only. Please trade at your own risk.
#ExcellentTrade #BearishEngulfing #SupportandResistance #MovingAverage
DETAILS
Analysis TF: 4H/1D
Focus TF: 1H
SL: Just above Bearish Engulfing (0.5ATRC on 1H TF)
AOV: Resistance Zone
1D Analysis
MC: Sideways - Price bouncing inside Horizontal Support and Resistance
4H Analysis
Price struggles to create a new High, forming a Bearish Engulfing (not yet closed - but it is a high momentum candlestick)
1H Analysis
ET: Bearish Engulfing - Confirmed Bearish Engulfing occurred on 1H TF.
Will scale in if price bounced on Support or on 10EMA, 83/100EMA or 200EMA at 1H TF
Will scale in if price bounced on Support or on 10EMA, 83/100EMA or 200EMA at 1H TF
Note: This post is my personal journal/opinion only. Please trade at your own risk.
#ExcellentTrade #BearishEngulfing #SupportandResistance #MovingAverage
Trade active
Price moving almost like as we forecast.Trade closed: target reached
CLOSING:Comment
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