USDCAD (Education)

FX:USDCAD   U.S. Dollar / Canadian Dollar
Whats up traders -

Educational post - heard some chatter in the chat rooms about this trade

This was likely a bull trap IMO -

  • Trade (NAFTA) talks have put this currency pair on every novice traders radar
    Long Running Bull Move
    Consolidated Rectangular Patter
    Breakout Above Rectangular Pattern
    Longs then take their positions
    Massive Price Dump

Risk Protection - Stop Loss Protection - So important in this business. Let this be an example..
Sep 07
Comment: two solid bounces off of the new bull support line since this post is a solid sign of some good uptrend coming on this pair, IMO
It looks like High End Correction. Got Most of it
Couldn’t agree more, was able to catch on the way down and minimize all losses from this trap!
+1 Reply
100% Right you are!!
+1 Reply
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