Technician
Long

(J) Trade 22 : Trend-following the Loonie #forex

FX:USDCAD   U.S. Dollar/Canadian Dollar
4480 14 88
Trade 22: Long USDCAD             @1.2915
Trade Status: Pending
S.L 1.2815
T1: 1.3055
T2: 1.3300

Balance= $28 000 Position size = 0.65 lot ~ 2.5% risk of capital

===========================================================================
Reasoning
  • Breakout above previous major swing high within the context of a long term trend
  • Retracement towards the broken resistance and price formed a hammer candle and holding support

Don't forget to click the Thumbs Up
Wish me luck and best of luck for everyone.

For Trades rules and guidelines follow this link
Journey to 100 Trades: Rules and Guidelines #forex

My best regards
Technician
Subscribe to my trading portal http://thefxchannel.com
My live trades here https://telegram.me/joinchat/DgsnQ0FzifLqyI2YAoMqqQ
Hi Technician, SL should be 1.2815 instead of 1.02815. Thanks for sharing!
Reply
Technician TOP JorgeEllena
a year ago
Thanks for the correction.
Reply
Pip-thief JorgeEllena
a year ago
I think we all knew what he meant !
Reply
sudersanrao
a year ago
Thx for the setup.
Reply
Technician TOP sudersanrao
a year ago
Thanks for you consistent support
Reply
AlexD_Trading
a year ago
Nice idea! Hope it trigger the entry this time! ;)

Good luck!
Reply
Nice one, I had a long yesterday that got stopped out and when I cam back after the NY close I was like "oh man that's nice looking hold on that daily bar!" Before pushing it wait for me to find another opportunity to get long hahaha. Good luck in your trading today Technican!
Reply
Technician TOP Akil_Stokes
a year ago
Yep mate, it looks good, however you know nothings gauaranteed. Wish you the best as well Akil.
+1 Reply
laprofi
a year ago
Hi! What about ShootingStar at 24/07/15 ? Will there be enough power to make a correction more deeper?
Reply
Technician TOP laprofi
a year ago
I think we already had the effect with the latest correction. The odds are usually with the main trend.
Reply
luce878
a year ago
Hi Techinician! best of lucks on your trade. I've looked at the weekly chart and there was a beautiful cup and a handle chart pattern
snapshot
so there's even more chances that the price will go up. Thank you for sharing!
Reply
ForexGuru
a year ago
All the Best :)
Reply
nahidik PRO
a year ago
Looks like a winner. Would you care to share your exit strategy? I see to targets do you go 50-50 with a sl move?
Reply
Pip-thief
a year ago
Hey Technician, your red area near the start of your fib extension, in a bullish trend as we are, wouldn't you consider that a buy zone as it nears structure support as evidenced by previous resistance on 30th January and 18th March ?
Reply
Ideas Scripts Chart
United States
United Kingdom
India
España
Italia
Brasil
Россия
Türkiye
日本
한국
Home Stock Screener Economic Calendar How It Works Chart Features House Rules Moderators For the WEB Widgets Stock Charting Library Priority Support Feature Request Blog & News FAQ Help & Wiki Twitter
Private Messages Chat Ideas Published Followers Following Priority Support Public Profile Profile Settings Billing Sign Out