The ranges I will be watching are 12300-12270 then 12225-12188

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The daily range is decreasing because this pair is in a wedge.

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EurCad has some of my favourite recent moves.

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Thanks SR You can get the point across much clearer than I can.

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Yes you're right buyers would be running out but so would the sellers, leaving the pair stuck in the range for a while. Hence no big reaction and you're stuck with an open trade rather than 80 pips in 30mins. It's about equal and opposite reactions. ...

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Yes and no. A recent retracement closeby will obviously weaken any other reaction close by and that trade was more risky becaude of this. But let me ask you - if price crept into that area above 12514 slowly in 10 small 5m candles how excited about ...

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Look at the daily chart USDCAD is in a wedge, we'll probably see it go down to 12200.

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No it's not luck because you identified the trade and took it. Everyone uses this method in their own way, you'll often hear the phrase "trade what you see", your charts hold the key to your success not anyone elses. I see 8970 s/r better in 5min ...

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USDCAD — The 90pip fall from 12514 did put me off a bit but the strength of the next push to 12530 was perfect as it means all the sellers would move together. A NBT of 84 pips. All the answers really are in this thread and the pdf.

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Entry too early stop too tight. Look at the pip ranges of any pair you are likely to trade some can move 20 pips a minute. If the range is too large look elsewhere. Currently even 40-50 pips is tight on most pairs, you have to choose your entry ...

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Yes I am put off. It happens.

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No I could wrong but I'm waiting for a little higher than 12514

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It is possible to see s/r everywhere, but the real skill is in identifying the significant ones. 8970 doesn't get me excited from a pure s/r point of view however is it a 38.2 Fib of the last big sell off.

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USCAD — Interested in a short in USDCAD from 12514-12539

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Cool. Can you attach a chart?

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That's not a No Brainer to me. Just IMO. The ideal 1h trend trade was at the pullback to 8900

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The long is from a range 9000-8976 - it isn't exactly taking off yet but there's still a chance. IT IS COUNTER TREND THOUGH.

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Go to your 4h chart plot a 9085* line and you'll see it has been used for both support and resistance on several occasions as far back as 13 Jan. The best levels have been both support and resistance. *Your charts may vary slightly to mine.

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EURGBP — 9085-9123 looks interesting for shorts

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True. I use fairly fixed s/l but limit myself to trades where I can put it behind support/resistance - and there are plenty of those, currently 400+pips a day on the table. See BRVs original posts/pdfs, it is possible to use a fixed s/l and simple ...

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