I am eyeing to short USDCAD with right timing and right location
Because I am too lazy to write all SnR lines in the chart, I am just using a box to sell if price get into the box area, and my take profit target, around the box area.
Well I am looking to short if price gets into the red box, of course with good location inside the box and price must reach there in right timing, then I will short from there.
I will be looking to take profit if the price get into the green box below.
Technically, the market structure is more to uptrend, so I am looking to short here as a retracement for upside move in a bigger scale. My TP (green box) is based only a small timeframe structure, which I think new HL will be formed around the green box.
Hopefully price will get into at least half of the red box so I can reduce my SL. Max SL is at 1.3375.
Let's see how it goes later today or tomorrow.
Well I am looking to short if price gets into the red box, of course with good location inside the box and price must reach there in right timing, then I will short from there.
I will be looking to take profit if the price get into the green box below.
Technically, the market structure is more to uptrend, so I am looking to short here as a retracement for upside move in a bigger scale. My TP (green box) is based only a small timeframe structure, which I think new HL will be formed around the green box.
Hopefully price will get into at least half of the red box so I can reduce my SL. Max SL is at 1.3375.
Let's see how it goes later today or tomorrow.
Comment:
I am still not in the position, the price went slightly few pipettes at the right timing but I don't see any volume confirmation. Will try to see today how or I will ditch this setup
Order cancelled:
I ditched this setup as the price doesn't behave like what I want last week.