This bullish EURCAD setup is invalidated by the price action. But now we have two awesome setups waiting. I am all over them waiting for completion of EURCAD bearsih bat on H1 and NZDUSD bullish butterfly on H4! Perfect ratios! Good resistance on EURCAD, NZDUSD has some support in area and price has slowed down, BUT, I will trade it on a reversal bar with a small stop loss. I am prepared to enter more than once if needed. Tomorrow is NFP and due to ADP results expected to be weaker, might propell NZDUSD up in no time!
While EURCAD might complete only after the NFP tomorrow, NZDUSD IS COMPLETED, now I need just to enter on a reversal bar. Since there are no news prior to NFP, I don't expect any mad price action, so I can wait for a reversal bar without a big risk of run away, i.e. that the bar will be so big it renders trade too risky.If we don;t have anything tonight I will see if I enter it right after the NFP even if it is running away, setup is just awesome. Makes to sense to enter prior to NFP as stops will be tight and spread jump and some volatility can easily hit the stop even if trade will move our way.
Today we had a possibility to have a very easy profit on UK Construction PMI. The problem was this trade did not perform well for over a year and lately PMI releases were performing badly, after the second round of BoE easing. However, it looks like it is getting some attention again and moving into focus. So today price moved over 30 pips on 1.8 deviation, in a very stead and easy fashion. Trade and forget, let the trail stop do the job. Not a miss, as it was impossible to know, but certainly a hunch for the next month!
As I mentioned, I became lazy lately and it was showing on my trading as well, so a part of my rebirth programme I am filling a trade journal again!
