I will be looking to go long the USDCAD on Monday. My entries and exits for this trade are based on fibonnaci and price action . At market close the market was at a level I would like to get in at but I am prepared for more downside. My perfect entry for this trade would be at 1.30891.
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My actual levels.
I consider this to be a risky trade because in order to hit my tp the market will have to break out of a triangle.
Lots of consolidation.
Trade closed: target reached:
Target 1 hit for 87 pips. Second position still open. I moved stops to break even but I will move it up if market passes first 1.
Trade closed manually:
I closed the other half of the position in order to avoid spikes during the upcoming news.
Thanks for sharing that with me. I didn't notice that it was in a triangle, good catch. If it goes lower than 1.30547 I will no longer look to go long on it. I am interested to see where we are when market opens. Thanks again for sharing. Share any updates you have on this as well please.