Setup: Break and retest to get long towards Inside Day Failure Target
Notes: We know inside day failures have a very high probability of going to target before being invalidated (over 65% here). I want to position long before we get there on a break and acceptance above the blue zone.
Setup: Buying breakout of weekly level 6006
Notes: I’m buying a breakout in this pair. Bid top of blue box, stop at cross. Setup also mentioned in this previous post.
Gold: Took +0.57R on a perfect reaction from my level. I exited due to my evolving R being diminished too much.
GBPCAD: I was stopped out of this on my trailing stop for -0.58R
CADCHF: I exited this as mentioned in the post when it closed through the swing low. I felt I was trapped on the wrong side of the level. Sod’s law it’s trading above my entry and has quite a nice looking candle on the daily, but I did the right thing. The long setup on a breakout of higher levels is still valid if we can get it. (-0.81R at half size so -0.41R if you calculate it that way). I don’t.