Acc Risk: 0.5%
Long: 1.4110 (as a market order)
Stop: 1.4084 (26 pips)
Target: 1.4240 (4h50, 156 pips, 6 RR)
Mindset: Pretty ambivalent
Updates
Order filled then stopped out – 12 Apr
Going in again – 13 Apr
Stopped out again – 13 Apr
Got a set up on the EURCAD chart that I like the look of. There’s correlations on other timeframes and other long set ups against the JPY (not had a lot of success against the JPY though!)
Here’s the set up
4H Chart – set up
EURCAD 4H Chart – 11 Apr
Daily Chart
Also into resistance on the d50 & d100.
EURCAD Daily Chart – 13 Apr
Order filled then stopped out – 12 Apr
Order got filled and pretty quickly stopped me out! I got filled on a bar down and then spike low took me out. Depending on how this bar closes, it could indicate some tasty upside, I’d be looking for a hammer to form inside the bands. Will keep an eye on it.
Going in again – 13 Apr
Acc Risk: 0.5%
Long: 1.4120 (as a market order)
Stop: 1.4084 (36 pips)
Target: 1.4224 (4h50, 104 pips, 2.88 RR)
Mindset: Pretty ambivalent
I spotted this set up last night whilst updating/breaking from my house plans for the door frame sizes! (Not a great situation for trading, I know). Price did a kind of hammer but didn’t close inside the bands, however the subsequent bar has closed inside the bands. The stop is slightly wider so the position size is smaller.
EURCAD 4H Chart – 12 Apr (end of day)
The spread was 10 pips on this market! Pretty wide compared to the EURUSD. Hopefully the order will get triggered and we’ll be in a winning trade.
Stopped out again – 13 Apr
My order got triggered over night and again got stopped shortly after, this morning. Shame will keep my eye on the market, looks like price might be setting up long again for a double divergence. If it does I still think I’ll stick to the 4h50 (despite the double divergence) as the 4h50 hasn’t been tested in a while.
EURCAD 4H Chart – 13 Apr 17