USDCAD - Long setup after finding support in channel

14 dic 2016

USDCAD made an impressive move higher today after finding support at the bottom of the channel shown in the chart above. Using yesterday's huge bullish engulfing candle as confirmation this is likely a good entry point for a long position.

14 dic 2016

Operación activa

Position opened at 1.32884

15 dic 2016

Nota

SL move to BE plus a couple pips to cover costs

22 dic 2016

Nota

SL adjustment: 1.334

Price has made it halfway to the top of the channel and is entering "congestion" where price recently found resistance. In the event of a quick reversal here, this will at least turn a profit after trading costs.

27 dic 2016

Nota

SL adjustment: 1.338

Didn't check this chart yesterday but price continues to rise. So, the SL is being manually trailed. Another adjustment will likely be due at the end of the trading day.

28 dic 2016

Nota

SL adjustment: 1.342

28 dic 2016

Nota

SL adjustment: 1.346

USDCAD is losing momentum as it nears the top of the channel.

29 dic 2016

Operación cerrada manualmente

200 pips is good enough for me.

Trade closed manually at 1.34913