Ok, traders. It's been a few days since I have seen any trades on the 4 hour chart. I'm seeing two the I really like technically although I'm not totally convinced fundamentally. So what do we do? We take them. Fundamentals haven't been a huge part of my recent success so we'll take a chance on these.
The first is the EURCAD.
4 hour, very over extended to the downside. Bottom of the bearish channel, ADX/Stochastic set up for a buy. We also just had a 3 bar reversal trigger @ 1.4673.
Update 5/7: Market on its way to its target. Currently up 70 pips. If you want, take the quick profits. If holding to the 1.4812 target (139 pip target), then bring your stops to breakeven for a risk free running trade!
Update 5/11: The market came back down and stopped out at breakeven. Onto the next trade.