Looks like a solid inverse H&S here, safest way to play this, wait for the break and pullback and then go long. Like i show with the blue line.
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The neckline has already been broken, the blue zone is the entry zone. Best to scale in if your not in already.
Use the green area as a stop
Use the green area as a stop
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We should be in this long trade now, so far stable above the neckline, so nothing wrong everything still looking good.
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So we did a quick drop to test the neckline and it got pushed back up even more, good sign. Think if we break this yellow box, it's okay to add some to the position, but adjust the stop loss as well.
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This trade is going perfect, hope you guys have added to the position already, if not don't add anymore.
I would take profit at those 2 levels, if the second one gets hit, let the the remaining pos run and move the stop to the first 33% TP level.
I would take profit at those 2 levels, if the second one gets hit, let the the remaining pos run and move the stop to the first 33% TP level.
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I would move stop for the remaining pos to the yellow box now, just in case.
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The update i posted half a day ago:
EUR/cad is also still looking good. Nothing wrong with taking another profit now instead of waiting for that second tar
EUR/cad is also still looking good. Nothing wrong with taking another profit now instead of waiting for that second tar
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Last target reached as well, i would take profit here with the remaining pos, at least a part of the rem pos and use a trail stop for the rest.