After analysis both weekly and monthly chart for USDCAD, I have decided to take a long position with my stop loss displayed on my chart.
It is clear that we are in a healthy uptrend for the moment and I am willing to take the risk to enter long in this point of time anticipating new daily highs at minimum. Please like or follow for more detailed and frequent analysis on different markets.
I am the unemotional, devotional trader that society doesn't deserve, but needs!
It is clear that we are in a healthy uptrend for the moment and I am willing to take the risk to enter long in this point of time anticipating new daily highs at minimum. Please like or follow for more detailed and frequent analysis on different markets.
I am the unemotional, devotional trader that society doesn't deserve, but needs!
Comment:
For anyone who did not manage to exit whilst in profit for those few days, do not worry. Personally I will be looking to reenter into this long positions when a higher low looks to form.
Comment:
We got the higher low as mentioned in my previous update. Now we will watch to see if the previous high shows much resistance or if positive price action can continue. On the longer term time frames we are still looking very bullish so exiting this position with small profit now still does not seem worth it despite price action short term