USDCAD: Uptrend in motion, potential targets
Updated
USDCAD might start tracing a continuation of the intermediate term uptrend here. Targets are on chart, both time and price matter here. I estimate to see a strong rally, followed by a correction, until there's enough time chopping around, needed to make the late comers give up, to eventually resume the rally, maybe once or twice before hitting the targets.
If you bought gradually with me, or bought before FOMC today, you can hold with break even stop at your average entry price, and simply wait for price to approach the bullish targets on chart. My preferred approach is to monitor the trade, to trail stops and add gradually, and reenter if trailed out, once the eventual pullbacks appear to end.
Good luck,
Ivan Labrie.
If you bought gradually with me, or bought before FOMC today, you can hold with break even stop at your average entry price, and simply wait for price to approach the bullish targets on chart. My preferred approach is to monitor the trade, to trail stops and add gradually, and reenter if trailed out, once the eventual pullbacks appear to end.
Good luck,
Ivan Labrie.
Trade active
I doubled the trade and moved my stops to 1.3285 to protect profits.Trade closed manually
The price action is scary, I'm out of all FX trades for now, I think we can get a retracement in the dollar trend.Note
Good profit taking zone if you're still in. Or at least, trail stops up, 75 pips under the price.Note
Reenter longs here.Trade active
Note
Should be the turning point...
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