LONG WITH WEEKLY PIVOT SUPPORT AND BREAK OF CTL HIGHER.

LONG WITH WEEKLY PIVOT SUPPORT AND BREAK OF CTL HIGHER. TP 1 = 9175, TP 2 9300 FOR 200 PIPS. BREAK LOWER OF 9000 VOIDS LONG ENTRY.

Trade active:

For a low risk initial entry, I entered a small lot at uptrendline support @ 9005, and will enter another buy after price breaks the previous 15 minute high @ 9021 and retraces back down to 9010/9015, forming a small bull crown at the uptrendline support. My stop is behind the low @ 9000/8990, and my target is 9300, so this is a very good risk/reward ratio trade. A third entry can be after a countertrendline on the 1 hr chart is broken, closed and retraced back to.

Trade closed: stop reached:

Low risk stop hit. Regular lot entry was never entered as price did not break the countertrendline.

Comment:

2ND entry was triggered on break of countertrendline. Take profits at TP1 then wait for pullback to reassess.

Comment:

High volatility of Iran issue spiked CAD and hit 9000 again. Out of trade.