HELLO GUYS IM THINKING THIS COULD BE A GREAT OPPORTUNITY to Go over EURCAD AND THE Fantastic OPPORTUNITY OF A LONG TERM TRADE.
LOOK AT THE CHART YOU CAN EASILY SEE MAIN TREND (AND THE POSSIBILITY OF A RETRACEMENT IF WE PASSED THE ORANGE TREND). Additionally, I believe swiss gov. wont let this go that far. This week motion could be a gov. transaction.
That I ALREADY HAVE SOME TRANSACTIONS OPEN AS YOU CAN SEE ON MY ACCOUNT:
avg 1.3650.
Im hedging, so I maximize this long-term trade, since we havent break the main trend *BEAR*. I need to be sure that we're breaking online so my hedge isn't so much.
We have two tendencies on the chart. The major trend is that the ORANGE and the momentum tendency that began on feb-26 that provides us the RED trend.
If you look the PA on the touch of those trendlines (on the support up line) the rally is fast towards 1.33. It wasnt that rapid and also the week closed above the momentum trendline that provides us the chance to hit and go on the ORANGE line at 1.39-1.3920. Only after breaking that ORANGE line I'd now for sure we're in a change of a MAIN TREND and ill stop doing so much hedging and start adding longs to a daily basis.
I visit a potential creation of a INVERTED HS on 4hr tf where I believe we will hit 1.3740-13690. That shoulder would provide the pair momentum so we can break and retest that ORANGE line.
TRADING PLAN:
OPENED TRANSACTIONS:
BOUGHT 1.3650 TP SL OPEN
SOLD 1.3784 TP 1.3730 (SEE THE PRICE ACTION THERE) SL OPEN
ORDERS TO BE OPENED:
BUY
1.3720-1.3690 SMALL
1.3630-1.36 DOUBLE THE OTHER
SELL
1.39 HEDGE SL 1.3933 2 LOTS.
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