A sell on CADCHF at the high

H4: Pointing Upwards (H1 is overbought)
D1: Up (H4 is overbought)

Moving Average:

Against Daily MA
H4 pointing upwards

Pattern:

M30 AB=CD

Strong resistance at 0.6490 - 0.6510

30 pip stop loss.
60 pip target

Why are we taking this?

1) H4 and H1 is overbought
2) Strong structure
3) Yesterday's high
4) Lots of divergence

Trade stängt: Stopp nått

Kommentera:

There were a few lessons here:

1) First we cannot hold the trade for more than 12 hours from the time EUR market opens.

2) This only applies if there is a M15 pattern

3) If there is no movement, close the trade and take a small profit or loss

4) Try not to trade during APAC morning unless there is an AUD, NZD news event.