OANDA:USDCAD   U.S. Dollar / Canadian Dollar
Weekly trend continues. 4hr wedge break out imminent.
Mar 01
Trade active
Mar 04
Comment: Moving my TP from 1.34 up to the weekly highs at 1.3670 and will manage this trade manually on the daily/4hr TF.
Mar 06
Comment: Now running at over 9% profit. Still holding and will be buying in on the next 4hr pullback (higher low) if there is one.
Mar 06
Comment: Another very bullish daily closure. Looking at the weekly fib levels, we could see levels past the 2018 highs of 1.3650
Mar 12
Trade active: Still holding longs on USDCAD. Positive swap fees paying each day which is nice.

I am hoping for 1.34 to stay strong and price then continue onwards to 1.3650
This is probably one of the best well spotted set ups on Tradingview!! It is also a sound lesson for people who get scared of high RSIs. The markets don't care about RSI. There are many artifacts created retrospectively by the RSI - and that is due mainly to selection bias. I think Tradingview should do a 'hall of fame' for setups like these trades, so that other traders can learn from them.
+1 Reply
Charlieab94 Captain_Walker
@Captain_Walker, thank you for the kind words mate. I am still holding my long positions on this trade as I think it has more to go in the long run :) simple analysis and good R:R is what I look for
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@Charlieab94, It's great. A bit of caution though. See the complex trends that occur with USDCAD in chart below. There are trends within trends. If it follows the previous pattern a reversal could be nearby near the middle of the most recent pattern.
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Thanks for the likes on this one guys... much appreciated :)
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Sweeeeet!! LOL
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Charlieab94 Captain_Walker
@Captain_Walker, easy money mate! 😝
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Nice trade mate πŸ€ͺ yes bet it is keeping you happy haha
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Charlieab94 ApexFX_Pro
@ApexFX_Pro, easy profit
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@ApexFX_Pro, I missed it.. but in hindsight it was a high probability for the north.
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Charlieab94 Captain_Walker
@Captain_Walker, yep that’s it matey, was a good set up. Nice and simple... 1 trendline and 2x Fib retracement levels overlapping πŸ‘ŒπŸΌ
+1 Reply
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