Technician
Long

USDCAD: Short-term Trend Resumption Trade

FX:USDCAD   U.S. Dollar / Canadian Dollar
2896 30 21
*Update: Stopped out
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I just initiated a long position on the USDCAD             at 1.1330, following the double bottom neckline breakout, supported by the bullish divergence on RSI . Also the dominant trend is bullish .

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Technician

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Trading Criteria:
1. Trades are taken in two units
2. First unit would be closed at first target
3. Stop loss is then moved to break-even
4. Second unit would be closed at second target
Notes:
5) If 90 percent of first target is reached I move stop loss to breakeven.
6) If 90 percent of first target is reached without triggering entry I cancel the trade.
7) Remember: Losing is a main part of the game

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Pity to be stopped. Long bias prevails from now on
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Cant be long USDCAD and long Oil I would say?
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I know you are a heavy contributor, which I love. But, what was you idea here? Going by your chart, that looks rather bearish, and anything bullish wouldn't have been started until a close above the descending resistance IMHO.
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long +short
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snapshot


Looks like a good short target now.
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Update: Stopped out.
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Oil goes up
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Good trade, but my analysis suggests you're early. Price should pull back to touch the 50% line of the channel before breaking out north. I suspect this will be done under the cover of tomorrow's Canadian news releases at 13:30 UTC. Good find though. Your stop should be enough. Good luck everyone. :)
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ForexDreams ForexDreams
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PIPFOLLOWER ForexDreams
like my analise :)
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