Tradeciety

Third time BB break - retest or breakout?

FX:USDCAD   U.S. Dollar / Canadian Dollar
77 0 4
After the reversal trade of last week, the USDCAD             broke above its middle Bollinger Band again.

The previous two times, the beakout was short-lived and the trigger for another bearish phase. 1.391 makes for a reasonable place to short but we need additional confirmation that the recent bullishness is fading. For now it's not a trade but once bears re-enter, the USDCAD             could make for a good trade.
I am trading Forex for 12 years and 6 years ago I quit my corporate job to travel the world


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