USDCAD, 10.8.2016, Opportunity

Uncategorized

TRADE SUMMARY:

pair hit the D1 support and bullish buy zone. Then retraced higher. Identification trigger was hit. I have setup my limit orders and did not pay attention anymore. Market came few ticks above my order but did not trigger them. After reaching previous high, I have cancelled orders. Liquidity was injected but without me. Next.

 

Good:

  • well positioned entry
  • not chasing trade
  • trendline in confluence with support

 

Bad:

  • level on D1 was already weak (3rd touch)

 

To Improve:

  • If the first target is reached without you, cancel trade
  • With 3rd touch, be cautios and take only the best entry pattern

Result:

  • cancelled

SCREENS:

D1

 

 

H1

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