SWING TRADING JOURNAL
Bearish invalidation still intact. So, I'm bearish for USDCAD and this is my plan
I will;
SELL USDCAD somewhere at Green Box (try to sell as high as possible)
SL ABOVE Red Line
Final TP at Blue Box
Manage this trade with your trading style, maybe you want to;
1. Close your position early (at 1R, 2R or any profit level)
2. Move your SL to...
EURUSD Analysis on the Daily Timeframe.
I usually do my analysis on the 4HR, however, looking at the chart on the daily looked more simple and easy to analyze.
Clear Head & Shoulders pattern occurring on the daily chart. (Yellow circle).
I am waiting for that last buy retest candlestick to close, so this may take about a day.
When a new daily candle forms,...
After the update of local maxima, our pair went down. At the current moment the situation on the chart is similar to the fact that the head and shoulders pattern is being formed. Now we are in the final stages of the second shoulder.
Therefore, we advise you to take short positions in the pair and we believe that the pair will move to the levels of 1.1370 and 1.1330
