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Building a case for a short-term sell on USDCAD. Utilising Pattern Separation and determining where price currently sits within structure. -
Overall, price looks to be sitting within the centre region of both the HTF Bear Flag and potential descending flag within that structure, indicating a possible short term move to the downside before making its way back up completing the HTF Flag structure for the Third Touch for the bigger sell.
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Read this twice!
The trading industry is filled with people who think that the ‘’strategy’’ is the key element to their trading.
Yes, it matters. But not as much as people think.
The strategy you use is the way you enter a trade... But before that comes something even more important: the analysis.
If you can’t properly forecast the different possibilities of how the market can develop, no matter how good your strategy is, it won’t change anything.
As a trader, your job is to forecast different scenarios and act on them when they happen.
That is the reason why understanding what the market is doing is much more important the your strategy.
This is a BIG to trading success!
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Forex is high risk, but there’s always a safe approach. Want to learn how? DM me
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Plan your trade & Trade your Plan. Want to learn how? DM me. Info in Bio
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