WillNixTrading

USDCAD (Education)

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..
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

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