USDCAD short
1. I marked up my chart where all of my points are.
2. I drew my Retracement from Swing High (A) the Initial Structure High/Point down to Swing low (B) my Initial Structure Low. As a result I seen my Original Retracement point came to the 38.2 level.
3. I looked to the past/left of the chart and seen structure in the market.
4. There is candle stick reversal by the OR, looks like a Evening star. Evening star doji pattern to the right again
5. There is no Divergence on the oscillator
6. Drew the Retracement again but this time starting from the most recent market high then to ISL, both retracement levels lined up meaning confluence.
7. Used the Extension tool to find a good take profit point. From (A) the Initial Structure High/Point down to (B) my Initial Structure Low, then back up to A. My first take profit is at the 0%, and my extreme profit level is at 161.8% both targets were hit!
Stop Loss would be at my ISP
2. I drew my Retracement from Swing High (A) the Initial Structure High/Point down to Swing low (B) my Initial Structure Low. As a result I seen my Original Retracement point came to the 38.2 level.
3. I looked to the past/left of the chart and seen structure in the market.
4. There is candle stick reversal by the OR, looks like a Evening star. Evening star doji pattern to the right again
5. There is no Divergence on the oscillator
6. Drew the Retracement again but this time starting from the most recent market high then to ISL, both retracement levels lined up meaning confluence.
7. Used the Extension tool to find a good take profit point. From (A) the Initial Structure High/Point down to (B) my Initial Structure Low, then back up to A. My first take profit is at the 0%, and my extreme profit level is at 161.8% both targets were hit!
Stop Loss would be at my ISP
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