My first attempt to harmonics pattern trading.
USDCAD 0.05% seems to complete the Gartley pattern , heading now to C-D formation.
Sell on break of counter-trendline, target at around 1.243 area.
Please let me know your feedback so I can learn from them.
Thanks.
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Market is not yet breaking our counter-trendline but it's losing steam already due to a divergence.
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Our alarm was triggered, breaking the counter-trendline but I was hesistant to place a trade because it was Friday and market is about to close.
Placed another counter-trendline hoping to have it break by next week, but the market broke it at the last candle.
Should we place a trade on a "fakeout" Monday?
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Market pull-back well to our previous counter-trendline that it broke last Friday on its last 4-hour candle.
We are looking to enter a trade when the market will break the previous support.
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We are getting a “fakeout” or “bull trap” yesterday. Good thing we aren't on the trade yet as it would hit our stop loss.
Waiting for the new entry area to break.