Trading idea / Long / USDCAD
Hello guys, today I was looking for a long position for $FOREXCOM:USDCAD.
The setup looks good with a major support arround 1.3500. We trend around the 200 sma and we got a retest of a cup and handle pattern.
Over all we got good news for the USD recently and I strongly think it will go bulish.
Let me know what you think about this Idea and good luck everyone with your trade!
The setup looks good with a major support arround 1.3500. We trend around the 200 sma and we got a retest of a cup and handle pattern.
Over all we got good news for the USD recently and I strongly think it will go bulish.
Let me know what you think about this Idea and good luck everyone with your trade!
Comment:
All right guys so we just test the support 1.3500. On the daily time frame, we got a beautiful bullish engulfing, so to me it's looking pretty good for the rest of the trade.
Trade closed: stop reached:
I dont think the technical analysis was wrong about this trade, maybe more the last news that came change a bit the fundamental behind this idea.
Losing is part of the process of learning and the best thing to do is to move on to the next trade.
Losing is part of the process of learning and the best thing to do is to move on to the next trade.