Forex Price Action Baby, No Technicals or Fundamentals…Trade N/A – Passed On Selling EUR/CAD (4/14/19)

10,000 Ft View – 4 Hr Chart

Here’s why I decided to pass on this trade set-up:

I don’t like all this trading in this range, a sign of equilibrium between sellers and buyers.

The origin of the move down (yellow) couldn’t take out the previous lows (purple).

As of result of price action not taking out the previous lows, the Reward to Risk was only 2:1. I’m looking for a minimum Reward to Risk of 3:1, but ideally a minimum of 5:1.

However, the trade is working out at the moment, if price gets pass the immediate demand (red rectangle), the

About the author: TIMM Trader
Uniting Experts & Novices for Mutual Profit!

Add your Scripsio!

Join Scripsio and write what you write!

Be a part of the Scripsio community. Share what you have written.

Comments

No comments yet