Short Term Buy for USDCAD (LOSS)
Reason for Entry (RRR) :
Counter trend trade, W forming @ 4H Support, Price hasn't retraced from previous BOS, USOIL fell, 1H hasn't closed past previous structure created (R/R Twin Trade 1:2, 1:3)
Outcome : Pulled out of trade before SL was hit. Oil took off in intended direction after stop hunt.
Feelings going into trade :
I don't usually take counter trend trades but because of USOIL hitting my SL on previous trade, it gave me inclination to look at USDCAD and saw this setting up. Still confident in analysis and will extract what I can if price goes in intended direction.
Feelings after trade : Oil really had me in circles this morning. I still my decision to buy here was bad in what was being shown. Will wait later this week to trade Oil and UCad.
Counter trend trade, W forming @ 4H Support, Price hasn't retraced from previous BOS, USOIL fell, 1H hasn't closed past previous structure created (R/R Twin Trade 1:2, 1:3)
Outcome : Pulled out of trade before SL was hit. Oil took off in intended direction after stop hunt.
Feelings going into trade :
I don't usually take counter trend trades but because of USOIL hitting my SL on previous trade, it gave me inclination to look at USDCAD and saw this setting up. Still confident in analysis and will extract what I can if price goes in intended direction.
Feelings after trade : Oil really had me in circles this morning. I still my decision to buy here was bad in what was being shown. Will wait later this week to trade Oil and UCad.
