sydn_y

sydn_y Updated 

I was supposed to post this last week. But I'll explain the markup soon!

sydn_y Updated 

I marked up this chart last night also. However, different from USDCAD I got in this trade. As you can see price left a lot of liquidity in the market when it dropped straight down from that 1.3000 level. Then when price came back up it broke structure and made a higher high and retraced to make its first higher low. During the second impulse move price didn't...

sydn_y Updated 

I marked up this chart last night. Being that USDCAD is ranging between the two red boxes I have marked on my chart, I decided to sell high. I am testing a strategy taught for ranging markets (**understanding that ranging markets and choppy markets are two different things**). I actually didn't put in the position because I was unsure of the result, however I'm...

sydn_y Updated 

I got in this trade last week Friday, I believe. I never got out because I forgot (I held it over the weekend). Let's get into my analysis and why I think this is a buy. I was expecting price to bounce off the red box initially because after the first bounce off the red box (creating support) it broke structure and made a higher high. **NOTE: the red box was...

sydn_y Updated 

At first I had this chart marked up as consolidation. Then I started to realize the slight downtrend it was forming. I used the Elliot Wave tool to distinguish the lower highs that had been formed. I placed my fibs to see what zones/levels price respected within the Fibonacci Tool, and for a take profit area that would be closer than my next major level. I think I...