ClassicalChartist
Short

TRade #2 USDCAD head and shoulders Correction Retracement

FOREXCOM:USDCAD   U.S. Dollar / Canadian Dollar
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2
USDCAD broke into a down trend out of a head and shoulders and has pulled back to the neckline. This trade will be good because the pullback to the neckline had little consolidation and no bullish reversal at the bottom of the rally, so I think the rally will not hold and it will continue its bearish trend .
Trade active: I would not be 100% confident on this trade because the rally to the upside was strong and there probably will be stop hunts around the neckline. Size positions wisely.
Trade active: That was close!
Trade closed: stop reached
Comment: Re-cap:
I am unsatisfied with this trade. I should've never taken it in the first place, the retracement is too big. I might still be right about it going down, but it is not worth trying since the head and shoulders already happened.

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