Short on USD/CAD on 24th November 2023. Based on the below facts.....
My Confluence Factors include:
a) DAILY CHART TREND: Bearish with the divulgence of the 8/21 Day EMA's with Support from Daily Chart P.Sar.
b) DAILY CHART LEVEL: Price formed a huge pin-bar reversal at the 21-Day (Dynamic) EMAs.
c) DAILY CHART SIGNAL: Pin Bar on the DAILY CHART.
In the TLS methodology I am basing all my confluences on the daily chart, not again making the mistake of taking the trades based on a H4 signal.
I took the trade on the 4-Hour chart as it had already broken the 21-Day EMA and made a slight retracement towards it.
I have come to learn a very powerful way of looking at the market and the whole point of trading:
“IT'S NOT ABOUT WINNING EVERY TRADE, IT'S ABOUT APPROACHING EVERY TRADE WITH A WINNING FORMULA."
My Confluence Factors include:
a) DAILY CHART TREND: Bearish with the divulgence of the 8/21 Day EMA's with Support from Daily Chart P.Sar.
b) DAILY CHART LEVEL: Price formed a huge pin-bar reversal at the 21-Day (Dynamic) EMAs.
c) DAILY CHART SIGNAL: Pin Bar on the DAILY CHART.
In the TLS methodology I am basing all my confluences on the daily chart, not again making the mistake of taking the trades based on a H4 signal.
I took the trade on the 4-Hour chart as it had already broken the 21-Day EMA and made a slight retracement towards it.
I have come to learn a very powerful way of looking at the market and the whole point of trading:
“IT'S NOT ABOUT WINNING EVERY TRADE, IT'S ABOUT APPROACHING EVERY TRADE WITH A WINNING FORMULA."