Large head and shoulders pattern formed and broke below neckline. May retrace slightly back but for me looks like a down trend coming.
Trade closed manually:
This one I have been holding for a few days now. since I don't usually hold past 2 weeks and this friday will be the 2 week mark, I decided to close on this big move down. I believe this is going down to 84 as the chart shows but for me I am already in 2 other CAD short trades so I am going to take some profits and keep the other CAD short positions open. Trading is about constantly making the decision to be flexible in taking profits and taking a loss. Some trades I hold until end and some I close early depending on circumstance. No right or wrong way. Happy trading. Trade closed.
Comment:
forgot to mention I was up 50% on my position here so that is why I took it. Once I hit profit of 50% return I consider closing as I don't want to be too greedy.