theforexportal
Long

Which way for USD/CAD Part 2

FX:USDCAD   U.S. Dollar / Canadian Dollar
The last 15 hours has seen a prolonged battle for control of this pair with the BEARS unable to push further south than 1.3516 as the area of support shown holds and price travels sideways. As oversold conditions unwind, USD BULLS look to be taking control. With such a huge risk/reward its worth taking a LONG here as we have a natural tight STOP just 20 pips below the open.
I'm LONG from 1.3539 with a STOP at 1.3511.
Trade active: LONG from 1.3539
STOP 1.3511
Target open
Trade closed: stop reached: USD/CAD continues to struggle to gain ground and has pushed down past my STOP. I still fancy we'll head higher from these levels and I've relaoded this trade LONG from 1.3538 with a STOP at 1.3502 for a 36 pip risk.
Trade active: New LONG position - same rationale. LONG from 1.3538. STOP 1.3502. Target: open.
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