In other words, we have a choch (change of character) until the 4 hour time frame, which means the pair's direction will change. I'm planning to sell, and I'll have a few entries—one that opens a few positions in case the picture entry doesn't materialize—because, you know, that doesn't happen every time you collect that liquidity that's up.
I will attempt to utilize this position with one positive plus on my FTMO ACC at the beginning of the week.
The USD/CAD pair had the identical setup and entry point last week, but the news didn't influence Cad's trajectory, thus it fell into our trap.
Our goal is to rectify the situation this weekend so that we can begin with a strong positive score.
I should note that after TP1 is reached, I usually make a 70% profit by moving my stop loss to break even.
I prefer taking a daily 0.5% rather than chasing for a 4% and risking it all, although sometimes even 100%
I will attempt to utilize this position with one positive plus on my FTMO ACC at the beginning of the week.
The USD/CAD pair had the identical setup and entry point last week, but the news didn't influence Cad's trajectory, thus it fell into our trap.
Our goal is to rectify the situation this weekend so that we can begin with a strong positive score.
I should note that after TP1 is reached, I usually make a 70% profit by moving my stop loss to break even.
I prefer taking a daily 0.5% rather than chasing for a 4% and risking it all, although sometimes even 100%