hongzx123
Short

USDCAD short - 14 Oct 2016 13:45

FX:USDCAD   U.S. Dollar/Canadian Dollar
31 0 4
Background:
- Bearish divergence
- 3 bearish reversal candle at triangle resistance and daily resistance at 1.317

Entry:
Short @ 1.3175 after 3rd bearish reversal candle off resistance area

SL:
Set at 50% of reversal candle @ 1.3245

TP:
Set at round number 1.3 before triangle support

Alert:
Cautious of ascending channel support, to pay attention and future daily bar reaction/close
Comment: Update - 18 October 2016:
- Currently 60 pips in money
- Price testing the channel support and formed a inside bar from yesterday close

Action plan:
- Hopefully today close lower than the 14 October candle low
- Currently no changes to the trade depending how today daily candle close
Trade closed manually: Update - 19 October 2016:
- Price didnt manage to close lower than the 14 October candle low and formed a bullish reversal candle near the channel support area
- Trade manually closed at 1.3107 with 67 pips gain:)
- Could have rolled the dice by moving SL entry level and see how it goes but looking opportunity to short CAD
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