sunnyk
Short

wedge break down GBPCAD

FX:GBPCAD   British Pound/Canadian Dollar
44 5 3
setup ~ compression wedge on 8 hour chart
trigger ~ break of lows of wedge
NOTE - trade is cancelled if not filled before 4.00 am e.t. (1/2 hour before construction PMI news on GBP)

entry ~ 1.84748
stop ~ 225 pips
t1 ~ 225 pips
t2 ~ 450 pips
t3 ~ 675 pips
position was exited with at break even.... heading into friday mornings typically i dont iniitate new positions and start trimming my holdings
Reply
looking to exit this position with a small loss - it needed to work by now.

few trades here caught in the oil flux and churn. big whipping on usdnok and usdcad carrying over here .. i typically dont cross-correlate but will minimise exposure to similar currency by reducing capital allocation
Reply
trade has been triggered now ... i have adjusted my stops and targets based on new "poke" low below supports just taken out
entry ~ short 1.84296
stops ~ 196 pips
targets ~ 196, 392 pips
Reply
cad, oil, nok getting stronger - price action here pierced the wedge bottom and retraced to test the break. New orders have been entered to re- initiate short position
entry ~ 1.84298
stops ~ 224 pips
targets ~ 224, 448, 672
Reply
trade untriggered - order cancelled ... will reevaluate entry later during the day
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