Technician
Long

USDCAD: Simple Short-term Long

FX:USDCAD   U.S. Dollar/Canadian Dollar
459 12 5
Update: I cancelled this trade, entry outdated.

Simple Long following strong rejection and trend line break . Overall trend remains bullish as well.

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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 moved to breakeven
4. Second unit at second target
5. If 90 percent of first target is reached without triggering entry, trade is cancelled
6. Remember: Losses is a main part of the game
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Waiting for entry.Good luck.
Reply
FaultyKid Barabaszek
I entered at 1.1106 but feel that was way to early. What you wating for?
Reply
A retest of 1.1090 minor support, and a better risk-reward
Reply
Technician TOP Technician
Money management is key, as it could be a losing trade
Reply
AshleyWeyers FaultyKid
These ideas are also not necessarily triggers. If you look at the trade setup, you will see that it is next to the current candle, entry price is lower than current. The view is that price will come back down over the next 4 hours and provide a better entry point. Also point 5.) If the price does not come back, but carries on to 90% of first target, then trade is cancelled.

Just my thoughts.
Reply
Technician TOP AshleyWeyers
That's exactly how I approach it, thanks for explaining
Reply
Barabaszek Technician
:-)
Reply
Short term as in what time frame?

My bias is a top forming, but on a weekly T/F.
Reply
Hi, I think we should look triangle on the daily time frame in which I do not see the signal until
Reply
Guys, I cancelled this trade, entry outdated.
Reply
FaultyKid Technician
Lol, and It finally took off now, There will always be another train.
Reply
Worked out the way u prefer, ur already long :)
Reply
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