USDCAD Long Bias Scalp/Intraday
Updated
Possible "price exhaustion" for a long position in the highlighted area. If the price pattern presents, stop would be 25 pips.
Note
White horizontal lines are price targets.Trade active
A valid "price exhaustion" formed a few pips below the lowest range of the highlighted area, around 1.3882-1.3885. Not the best entry though, as we had a drawdown of around 14-17 pips, yet still safe with a 25 pip stop loss below the previous day's low. The market then run into 30-35 pips in profit, and at this point stop should be at breakeven.Trade closed: stop reached
Price reached stop loss at break even.
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