USDCAD Idea

- Bullish Hammer on 1H
- Rejecting lower demand zone @ 1.31000
- RSI putting upwards
- Bounce from 1.0 fib level

I don't normally incorporate RSI indicator into my strategy, as I have never found it that reliable. I will be testing it out against results and see if I can make any improvements.

Trade closed: stop reached:

While I did have a relatively tight stop loss, price made big moves to the downside over night.

I had good reasons to take this trade, but it didn't work out this time.

Seems that it was more of a pullback than a reversal.