USDCAD Simple Trade
Break out and pull back
Short at 1.2942
Break out and pull back
Short at 1.2942
Comment:
Getting Closer
Trade active:
ORDER FILLED
Comment:
Risk Reward: 1 :4
Comment:
Comment:
Price retested the wedge
and the horizontal resistance level 1.2977
I am not stopped out because the price did not close
above 1.2977, and i have at least 10 pips breathing room
for all my trade.(IF it is a daily chart, minimum 30 pips
breahting room).
The reason behind the trade is, USDCAD is making
lower highs and lower lows.
So we must exit if 1.2977 is violated.
As long as 1.2977 is not broken, we can still short.
now is 1.2902, +40 pips
and the horizontal resistance level 1.2977
I am not stopped out because the price did not close
above 1.2977, and i have at least 10 pips breathing room
for all my trade.(IF it is a daily chart, minimum 30 pips
breahting room).
The reason behind the trade is, USDCAD is making
lower highs and lower lows.
So we must exit if 1.2977 is violated.
As long as 1.2977 is not broken, we can still short.
now is 1.2902, +40 pips
Comment:
+50 pips
Comment:
HIT 1.2830, Close 50% Position
+110 PIPS
+110 PIPS
Trade closed: target reached:
TRADE CLOSED : TARGET 1.2780 HIT
+160pips
+160pips
Comment:
This is very good example of broken wedge and retest trade
Comment:
We TP at very good place. now the price has rally up again