USDCAD Trade Idea
Updated
I am only looking to buy as I can see the market is currently bullish on the weekly and daily time frame.
The last bullish impulse move took place and I want to see if the pullback is a correction by testing the 61.8% fibo level.
IF a buy signal prints on the 61.8 retracement level (1.32611) I will open a buy order with my stop below support and targeting resistance.
Don't bet the farm - always exercise good risk management :)
Hit the like button if you dig it and feel free to share if you feel like it.
The last bullish impulse move took place and I want to see if the pullback is a correction by testing the 61.8% fibo level.
IF a buy signal prints on the 61.8 retracement level (1.32611) I will open a buy order with my stop below support and targeting resistance.
Don't bet the farm - always exercise good risk management :)
Hit the like button if you dig it and feel free to share if you feel like it.
Trade active
Entry made at 1.32703Price got out of there really fast
Comment
Moving stop to break even. Currently at 103 pips profit. I am expecting the resistance level to hopefully break today following which my target should be reached shortly after...Trade closed manually
Closing manually banking 144 pips. It was a nice rally and using the fibo levels helped massively in knowing to hold on and use them as lines of defence. I will re evaluate the pair and share my view in a new trade idea.
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