CADCHF Fighting Back!?
Good afternoon ladies and gentlemen
When I heard about the volcano in Iceland, I thought wouldn't it be nice to have an explosion of massive funds in my account. In reality, this happens to very few on a short term basis unless of course you already have a large amount to play with. Trading the Smart Money way with the right strategies and psychology will bring you outstanding rewards in the long run. Your patience indeed will be rewarded.
My entry into the CADCHF has still not been triggered. Below is the daily and we can see that price has been fighting back since the market pull back but is still 200 odd pips from my entry point. So What can we expect next? Can we expect price to continue it's fight back and break through the pivot? I have stacked the odds in my favour and am now waiting to see if the market will do just that. Yesterday's bar was a reversal candlestick which looks favourable and we always have the trend. We could see a 123886 or a similar chart pattern and see price reverse with a divergence on MACD (is there one?!). This could happen before or even after spiking me in. However, this is allowing emotions to get in the way and me second guessing what could happen next. I trust my analysis, have put in my entry into my trading account and am now waiting for the market to work its magic.
If you recall, with the market pull back I was around 50% down across all my trades. However, with the fight back over the last two days and more importantly focusing on my "management", I have now recouped almost of all of that back with one trade even hitting my first target and hence me now being risk free.
I will leave you to do your own analysis.
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