Technician
Long

USDCAD: Bullish Swing Trade

FX:USDCAD   U.S. Dollar/Canadian Dollar
2607 19 35
Update 2 : I just closed my second unit at 1.1065. As i see strong bearish signs, a bearish shooting star candle at latest resistance, and a bearish divergence on RSI . I will look for short signals now.
Profit(pips): +120 on first half + 205 on second half = +325

Update: first target hit, moved stop loss to break-even.
Profit(pips)= +120 for first half, second half still running.
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Hello friends, after a long vacation, i am happy to be back with a trade that I placed today, Lets see whats going on with the USDCAD:

-The price has broken-out of the falling wedge pattern
-The price has broken above the 50-days SMA
-The price had formed a double top pattern, but failed to confirm the breakout below the neckline of the pattern
-A retest of the 50-days SMA and 1.0810 has completed recently
-The price formed a bullish hammer candle at this support
-The overall long term trend remains positive.

I put a buy limit order at 1.0860, targeting first 1.0980 then 1.1180 as an aggressive target. My stop is placed at 1.0790.

Best of Luck , join me at https://twitter.com/thefxchannel
Also at my Facebook             page www.thefxchannel.com
My best regards,
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
5. Note that If 90 percent of first target is reached without triggering entry, trade is cancelled
6. Remember: Losing is a main part of the game ;
If you dont want to miss any trade and see all the trades live, fully transparent. No bullshit like some others. Join my FREE channel here https://telegram.me/technician_forex_trades
TradersClassroom
2 years ago
Good trade idea. Every time it gets below the 1.0850 mark, it gets sucked right back up. 3 consecutive days. Hope it works out for you! Happy trading!
Reply
The correction we had last couple of weeks is an amazing opportunity to enter this rally
+1 Reply
thanks Hope you are fine
Reply
Technician TOP manijeh.kazemi.33
2 years ago
I am , thank you
Reply
This trade is active now
+1 Reply
Another opportunity to enter long was today
Reply
TradersClassroom Technician
2 years ago
Look at that long wick.
Reply
Technician TOP TradersClassroom
2 years ago
Yep sir, I love it. Hope it will be sustained
Reply
TradersClassroom Technician
2 years ago
I'm in this trade as well. Great analysis and very educational!
Reply
Technician TOP TradersClassroom
2 years ago
Thanks mate, then good luck to both of us
Reply
Cfsqbwn.
2 years ago
I am in as well...TP is same 1.0980 ?
Reply
Technician TOP Cfsqbwn.
2 years ago
for me yes
Reply
Cfsqbwn. Technician
2 years ago
ok.. thanks...
Reply
Update: first target hit, moved stop loss to breakeven.
+1 Reply
Profit(pips)= +120 for first half, second half still running.
Reply
Update: I just closed my second unit at 1.1065. As i see strong bearish signs, a bearish shooting star candle at latest resistance, and a bearish divergence on RSI. I will look for short signals now.
Profit(pips): +120 on first half + 205 on second half = +325
+1 Reply
Technician TOP Technician
2 years ago
snapshot
Reply
Barabaszek
2 years ago
Great trade mate. Respect :-)
Reply
Technician TOP Barabaszek
2 years ago
Yep, had some good luck on this one :) . Thanks
Reply
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