EURCAD short trade on 19/11/24
Pre-Analysis:
- Trade based on trend pullback using H4 timeframe.
- Strength meter shown equally strength between EUR and CAD currency.
- This made trade should only focus for a quick profits of any and should not be hold for a new low.
- Full watchlist of this day:-
* Buy: EURCAD (counter trend)
* Sell: EURCAD
CADCHF & CADJPY (counter trend)
- EURCAD was in both buy and sell watchlist, this trade need to trade with very extra careful.
- Strength meter of that day:-
Entry:
- Entry time 4:02pm
- Immediate strength meter:-
- I set a 2R profit target, stick to my plan.
Post Analysis:
- Got profits smoothly.
- Good execution.
- This trade can be consider to take profit at previous low. But as I am sticking to my plan, 2R profits consider acceptable.
- Mentally prepared to accept if this trade not working out.
- Update (23/11/24): trade able to reach max 15R profits at the end of trading week. Price drop to the low until 1.44855 level.
