Olu
Short

UsdCad: Retracement Within An Uptrend

FX:USDCAD   U.S. Dollar/Canadian Dollar
172 5 2
Comments on the chart
Olu
2 years ago
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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timwest PRO
2 years ago
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.
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Olu timwest
2 years ago
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
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Ghostrider7
2 years ago
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.
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Olu Ghostrider7
2 years ago
Thanks Ghostrider7 for your comments. Let's see how this plays out
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