ForexDreams
Long

USDCAD LONG WITH CHANNEL HIGH BREAK

FX:USDCAD   U.S. Dollar/Canadian Dollar
52 0 1
100-120 Pip move up including the current channel high break.

First trade with 50 pip TP to current orange channel high.
Second trade with 90 pip TP to new green channel high.

I expect move to current channel high to take place overnight (UTC), some action to occur in the morning and then the break of current high at 13:30 (UTC) on some Canadian news releases. Alternatively the news could be used as a stop hunt.

Good luck :)

UPDATE: Stopped out for -25 pips.

Right, I understand what happened now. Such a shame I didn't spot it earlier. Anyway what we'll see next week is a reversal pattern of some kind, followed by a new Long channel.


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