USDCAD - Favouring downside bias to 1.32500
Heavily manipulation on this pair around the 1.33500 region so keep stops fairly wide.
Going in big on this move with 50 lots currently running and they have been running for the past few hours, experiencing many spikes and wicks. The wicks are leaving an overall bigger picture, especially on the 4H timeframe.
Despite the big running position, I'll likely be holding this through any swings to the projected target.
Many people have been anticipating the inevitable reversal of this pair and I believe we may be setting up to see this happening via this potential move, if not the final push higher.
There's a big misconception that if my stop loss is hit I have lost and not re-entered, where in reality my strategy uses tight stop losses which if met, fit into my risk/reward to enter at a better price.
Going in big on this move with 50 lots currently running and they have been running for the past few hours, experiencing many spikes and wicks. The wicks are leaving an overall bigger picture, especially on the 4H timeframe.
Despite the big running position, I'll likely be holding this through any swings to the projected target.
Many people have been anticipating the inevitable reversal of this pair and I believe we may be setting up to see this happening via this potential move, if not the final push higher.
There's a big misconception that if my stop loss is hit I have lost and not re-entered, where in reality my strategy uses tight stop losses which if met, fit into my risk/reward to enter at a better price.