USDCAD: Waiting For Alternate Entries
Analysis on chart!
I narrowed down a potential Shorting zone where there is Harmonic Leg Completion, 1.618 Extension and a 0.786 Retracement
I have highlighted the Aggressive Entry (Limit or at Market) and the Conservative Entry (Double Top) Price has just put in a Double Top which could then allow much lower risk, thus increasing risk reward ratio from a 0.77 to a 2
It shows that you should never right off your analysis if risk is too great and can wait for a more conservative way of entering which then may fit your max allowed risk! It will all come down to what you have tested and what is required for you to take the trade! I thought I would share this insight with you as some may find it useful!
Hit that like button and comment away I would love to hear your ideas
Ric
I narrowed down a potential Shorting zone where there is Harmonic Leg Completion, 1.618 Extension and a 0.786 Retracement
I have highlighted the Aggressive Entry (Limit or at Market) and the Conservative Entry (Double Top) Price has just put in a Double Top which could then allow much lower risk, thus increasing risk reward ratio from a 0.77 to a 2
It shows that you should never right off your analysis if risk is too great and can wait for a more conservative way of entering which then may fit your max allowed risk! It will all come down to what you have tested and what is required for you to take the trade! I thought I would share this insight with you as some may find it useful!
Hit that like button and comment away I would love to hear your ideas
Ric