The UsdCad has been very bullish in the recent weeks but 1.2922 - 1.2878 is the key area of resistance whcih we should be paying attention to.
Price got rejected earlier this week and trying to make another attempt but failed to break higher.
Another bearish Pin formed yesterday, higher chance that we may see the UsdCad going lower from here.
My Position:
Entry - 1.2895
Stop - 1.3015
Target - 1.2715
*** This information is NOT a recommendation to buy or sell. It is to be used for educational purposes ONLY. ***
*** I will accept no responsibility for any losses you may incur. Do not invest more than you can afford to lose. ***
Price got rejected earlier this week and trying to make another attempt but failed to break higher.
Another bearish Pin formed yesterday, higher chance that we may see the UsdCad going lower from here.
My Position:
Entry - 1.2895
Stop - 1.3015
Target - 1.2715
*** This information is NOT a recommendation to buy or sell. It is to be used for educational purposes ONLY. ***
*** I will accept no responsibility for any losses you may incur. Do not invest more than you can afford to lose. ***
Trade active:
1) Will add some position when price break below 1.2860
2) if price can break lower, Stop will be adjusted to 1.2985 (aiming for 1r stop loss)
2) if price can break lower, Stop will be adjusted to 1.2985 (aiming for 1r stop loss)
Trade closed manually:
The UsdCad got pushed higher after the news came out and I closed my trade manually with some losses (-0.4r) as there is a strong bullish bar formed on the 4ht timeframe.
My trade record since Feb 2018
+0.8r
My trade record since Feb 2018
+0.8r
27/2 - Gbp/Aud (breakeven)
5/3 - Nzd/Usd (+1.2r)
5/3 - Eur/Usd (+1.0r)
9/3 - Usd/Cad (-0.4r)
12/3 - Dollar Index (Pending)