UsdCad: Retracement Within An Uptrend

FX:USDCAD   U.S. Dollar / Canadian Dollar
173 5 2
Comments on the chart
Looks good Olu. There is some supply up here plus CL put in a hammer today so that should give some strength to the CAD.
Olu Ghostrider7
Thanks Ghostrider7 for your comments. Let's see how this plays out
Nice commentary and graph and thought process! Any chance you can add the P&L-short and P&L-long (if stopped out short)? Graphics are always helpful. Nice work.
Olu timwest
Thanks for your comments. Much appreciated. About the P&L I have to make a confession. I dont know how to add it to the chart. Point me in the right direction and I will put up another chart
Forgot to add this to the comments on the chart. This can be traded in 2 ways. Short at market with a stop above the high of the inverse hammer (adjusting trade size to account for a stop of 100pips or thereabouts) or go conservative by going for a 32.8% or a 50% fib retracement of the inverse candle (this will make the trade size bigger because of the smaller stop required but you could miss the trade altogether)
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