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. ------------------------------------------------------------------------------------------------------------------------------------------------------------------------ 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.
================================================================== 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 ;
Comments
Technician
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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
Technician
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Technician
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Update: first target hit, moved stop loss to breakeven.
Technician
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This trade is active now
vlad.adrian
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The correction we had last couple of weeks is an amazing opportunity to enter this rally
Barabaszek
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Great trade mate. Respect :-)
Technician
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Yep, had some good luck on this one :) . Thanks
Technician
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Profit(pips)= +120 for first half, second half still running.
Profit(pips): +120 on first half + 205 on second half = +325