This is as basic as technical analysis can get.
We saw cad strength this past week or so (or dollar weakness rather) giving us an impulsive move down to a support level where we already started to see a rejection in the form of a pin hammer.
We would like to see a retracement of that impulse, preferably to the previous daily support which will now act as resistance and our target for this setup.
Stay strapped and control risk
We saw cad strength this past week or so (or dollar weakness rather) giving us an impulsive move down to a support level where we already started to see a rejection in the form of a pin hammer.
We would like to see a retracement of that impulse, preferably to the previous daily support which will now act as resistance and our target for this setup.
Stay strapped and control risk
Trade active:
Please check comment section for the trade.
Trade closed manually:
Closed when price came back to the entry area for a break even trade