Short

USDCAD Long Oppurtunity

Updated

I will be looking to go long the USDCAD on Monday. My entries and exits for this trade are based on fibonnaci and price action. At market close the market was at a level I would like to get in at but I am prepared for more downside. My perfect entry for this trade would be at 1.30891.

Note

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Trade active

My actual levels.
Entry 1.31435
S/L 1.30495
TP 1.32134

Note

I consider this to be a risky trade because in order to hit my tp the market will have to break out of a triangle.

Note

Lots of consolidation.

Trade closed: target reached

Target 1 hit for 87 pips. Second position still open. I moved stops to break even but I will move it up if market passes first 1.
1.3180

Trade closed manually

I closed the other half of the position in order to avoid spikes during the upcoming news.

MikePips

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