Keith C wrote:
“A scalp on the USDCAD coming off of 4H 55ma support at 12900 figure.
Trigger was the 5/8 cross on the 5m.
Sorry, this move was almost over b4 I could post it.
Any feedback? would u let this run longer with oil and dow dropping into the NY open?”
Hi Keith C, good call!
I had it marked as a possible WPP to WR2 at the beginning of the week on H4.
Therefore as it retraces and lift off the Fib on M5, I would put the SL at BE and let it run.
I will not take this trade because at this moment I am already down in a EURUSD position.
Let me know how you’ll trade it!
All the best mate!
2100BST Update: M5 worked well, H4 no
The setup on M5 worked well with a lift off the 50% Fib ret.
which predicted and fulfilled a 138.2-161.8 extension.
After that price collapsed following an head and shoulders, so the H4 weekly plan didn’t fulfill its destiny.