This trade looked very promising on paper, but in reality, it didn’t turn out as planned. The issue was that I set my stop loss (SL) at break even or slightly above. As a result, it was triggered, and the trade closed at the next available market price. Typically, this matches my SL price…
The USD/CAD pair is currently bouncing off the 0.786 Fibonacci level. If this bounce holds, I expect upside movement toward the red (0.71) and possibly the green (0.618) Fibonacci levels. However, zooming out reveals a daily downtrend, confirmed by bearish candle patterns such as lower highs and lower lows. Since I avoid trading against…
This week I’m focusing on AUD/CHF. I am looking to enter a short. However, I am currently waiting if a retest might happen to a little bit below the EMA50. I order to check if this retest is happening, I will monitor the candle behavior at lower timeframes (4hr and 1 hr) This chart…