Usd cad short to median line. Risk reward 6 to 1
Updated
Usd cad short to median line. Risk reward 6 to 1. Price recently popped to the sky blue downsloping upper median line parallel. This is where price should run out of energy and reverse back towards the center line also known as the median line which is my price Target. Stop loss is just above prior highs on February 12th
Note
Stop loss moved to break even. Target 125.80 at blue downsloping median line. Trade active
stop (green X) moved just above recent swing hi at 127.14. profit target still at down sloping blue median line 126.60. risk reward now 6.84 to 1. If price pulls back up and then makes a new low, I'll move my stop just above the new swing hi.Trade active
moved stop down above recent high, have nice profit locked in. moved profit down along median line at 125.49. now reward is 7.5 to 1 of initial risk.
Trade closed: target reached
7.8 to 1 final risk reward o this winner!
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.