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.
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| 27 | 28 | 29 | 30 | 31 |
This loonie pair has been trading upward in a nice ascending channel. With bearish divergence now present and price facing resistance around the 1.0200 handle, I look for it weaken back to the bottom of its channel.
I’m going to short now at 1.0190. My stop loss (SL) will be 1.0230. My profit target (PT) will be 1.0110. As usual, I will post any trade adjustments in my comments section below.
Sell USD/CAD @ 1.0190 | SL: 1.0230 | PT: 1.0110
@ujini1: just a personal preference. any oscillator would work.
@hypnos63: i would like to post shorter time frame trades but they are difficult to post in time. because i have to write my rationale for the trade and label charts, by the post my entry has usually triggered.