A quick update on the EURCAD trade for anyone following .
It turned out to be a good entry and was never much troubled. The tweeter-in-Chief helped it along late in yesterday’s US session.
I have spoken in the past of how charts evolve, and we mustn’t be lazy in redrawing trendlines and tweaking our indicators along the way. — When the charts are compared I notice the difference. The trendline has moved to accommodate a further swing low and a new line has morphed from the price action.
The original chart below — I remember being a little out on my entry. yet the pattern soon repeated itself around 1.5350 and I decided that it was a hold.
I had no idea at the time that it would turn out to be a +200 pip trade. The chart quickly took shape allowing me to set a target.
EURCAD – H1
Today’s touchdown ……..
EURCAD – H1 Target hit
Philosophy: "Trading rules.....it most certainly does"
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Teching at its finest folks.
Great strategy, great execution, great trade. Well done H.
Hi Dubsy whatever time it is where you are 🙂 . Very well done and shown don’t you just love it when that happens. Masterful use of candle patterns. I don’t use candles myself mainly because I am a short termer or day something lol. I have always had time for head and shoulders but these days use that german stuff to try and keep my golden locks, atvb Chris
Dubs might be too busy hiding under a table for a while Chris as the earth has just literally moved for him (he’s had a minute long earthquake).
New underpants needed after that one,
I’m 7 Hrs. ahead of you in the UK at the mo Chris. – 8 Hrs. when the clocks change.
The head and shoulders gag is often touted around the trading room. Many of us dont have to invest in shampoo these days. I used to have an abundance of flowing locks before I met Ryan and K-man ?
Blimey earthquake hope it wasn’t bad one Dubsy must be very distressing for you and yours ;( . We are not used to them but have had a couple of very small ones in recent years, one which did cause some houses in a street to be badly damaged somewhere around Birmingham. When fracking started in Blackpool they had some so they stopped but there starting again. Sorry about the old H&S gag the truth is I do have a lot of time for them and have used that pattern on the FTSE. Keep safe Dubs ,atvb Chris