I'm still keeping a close eye on CADJPY and USDCAD this week for potential new trades (both pairs are compressing on the H4 at the bottom or top of a daily compression, so will wait for break of the compression to get involved) but it is EURGBP I got involved with yesterday!
The pair had been in a tight compression on the monthly timeframe since the end of 2017, and price was back at the bottom of the monthly range where I'd be interested to buy. Had an signal for entry on the H4 yesterday for a very nice risk:reward trade : 99 pips of risk for a potential of around 300 pips profit (in the end it will depend on where I'll be able to take target 1 and if price will go all the way to target 2 or if I'll be taken out on trailed stop).
Bottom line is : find opportunities that matches YOUR trading plan and YOUR trading rules, and EXECUTE your plan like a machine !
Have a great week folks!
The pair had been in a tight compression on the monthly timeframe since the end of 2017, and price was back at the bottom of the monthly range where I'd be interested to buy. Had an signal for entry on the H4 yesterday for a very nice risk:reward trade : 99 pips of risk for a potential of around 300 pips profit (in the end it will depend on where I'll be able to take target 1 and if price will go all the way to target 2 or if I'll be taken out on trailed stop).
Bottom line is : find opportunities that matches YOUR trading plan and YOUR trading rules, and EXECUTE your plan like a machine !
Have a great week folks!