Trading On Target 🎯

USD/CAD Daily chart Today marks the first day in a series of downward moves where there is a bushing engulfing candle. The downtrend noted by the black trendline is broken. In time I will set a tighter uptrend line going on a positive angle as the exchange rate higher levels if there is power behind today's support, and greater demand for US-Dollars or Canadian weakness. Three hour chart I thought by sending out orders in two batches that the second order would not get filled. But as it turns out the first order was filled to close the long position at 1.25 approximately and then at 1.2550 so I was planning on waiting for a pullback and then adding to my initial long position and raising the target far above like 1.26 or 1.27, the move was surprising but time will tell if there is a pattern that is forming like three moves up and one down. The supportive areas below price I plan on having them very tight and closer to price so that when orders get filled I can begin to do them more frequently, for now price can consolidate and move sideways before the presumption of it moving to 1.26. EUR/USD Daily chart Lately I have been considering having three levels above and three levels below so my approach is to create an algorithm that is more manual in nature. The algorithm seeks to get to the closest target that is conservative and risk and will be more likely to hit. It is not such a moon shot to think that with the damage that was done today that the pair will reach 1.16. As far as the two resistance areas above at 1.18 1.19 it is hard for me to believe that it is possible with in this week or even in the near-term future because of how stretched the dollar was, and may be the euro is vulnerable to a pullback that can possibly continue One day in my opinion does not a trend but it surely could be a start the idea of support levels being violated is something that we can consider if there is a persistent downtrend in the next 5 to 7 trading days Three hour chart the resistance above in the two red lines acted very well even though there was a puncture above 1.17501. The pair is tired. And to think that it is possible to reach 1.18442 is difficult here. So selling the rips and bounces along the way is good and I can start the pyramiding where I close 1/5 of the trade in 50 pip moves. The blue zone below is within reach.