Shandys post on Eur/Cad

Shandy is right about the push-pull pattern but lets look at the context of the trade.  The first chart is a monthly and daily side by side, you will see that the low of the move coincides with a Monthly Push-pull and a daily upward channel.  It should be our goal to get in as near to the bottom of that channel as possible so we can ride the move up to the other side of the channel which is over 500 pips.

There is a large push-pull set up at a support area near here and this is a good place to look for an entry.  There was an earlier entry where the push-pull level wasn’t quite reached but just 4 pips difference which is acceptable.  The trade would have ended up a break even trade.

 

Shandy’s push-pull set-ups have large pin stops and are near the high of the channel, the only way to take these trades is to move to break even as soon as possible and hope that the upper trend line on the channel will be broken, however just hoping to break even  is not a good way to enter a trade.

Earlier break even entry