TRADE: USDCAD: Trend Line Retest + Bat BAMM Broken

FX:USDCAD   U.S. Dollar / Canadian Dollar
277 0
I'm posting this a little late though I've already executed my trade. (Sorry, was busy posting on other pairs). I place a SHORT trade based on the recent PA re-testing the broken long-term trend line . Prices will almost always do this when breaking some long standing structure like a trend line .

But even as of the time of this post, there is still about +100 pips to go to reach my target on this trade which is the D point completion of the POTENTIAL bullish bat I posted about in an earlier post (see Related Ideas:" ANALYSIS: USDCAD: Long Term Trend Line Broken. What Does It Mean"). Also, prices have exceeded the BAMM B point line of the bat which increases the odds that the bat will be completed. If you want to wait and take a chance on getting a better trade, you can wait for prices to possibly retest the BAMM line before entering.

Please keep in mind that I am not giving any trading signals or trade calls here. Only providing my own trade thoughts for your benefit and insight as to my trading technique and style. Please don't ask if you should or should not take the trade. If you are not sure, then you do not have a trading plan for yourself in place. I suggest you make one before you continue to do any trading!

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