I'll be scouring the charts for "actionable masterpieces". These will be signficant chart patterns or set-ups that I feel are not only tradeable, but also have a high probability of making big profits with little risk. Whenever I spot an "actionable masterpiece", I will post an annotated chart (my chart art) along with an explanation. My goal is to help you learn how to spot these low ocurring but highly profitable "actionable masterpieces" yourself.
| S | M | T | W | T | F | S |
|---|---|---|---|---|---|---|
| 1 | 2 | 3 | 4 | 5 | ||
| 6 | 7 | 8 | 9 | 10 | 11 | 12 |
| 13 | 14 | 15 | 16 | 17 | 18 | 19 |
| 20 | 21 | 22 | 23 | 24 | 25 | 26 |
| 27 | 28 | 29 | 30 | 31 |
There is bearish divergence present here. Price has made higher highs while the oscillator makes lower highs. I look for price to fall back to parity, a strong psychological support level, as well as where the pink 50 EMA and purple 200 SMA are hanging out.
I'm going to short now at 1.0090. My stop loss (SL) will be 1.0130, slight above resistance of 1.0120. My profit target will be 1.0000.
Sell USD/CAD @ 1.0090 | SL: 1.0130 | PT: 1.0000
