KhaleemAli
Long

USD/CAD LONG - Bullish Candle/Hammer/Breakout

FX:USDCAD   U.S. Dollar / Canadian Dollar
27 views
2
Took a long on this pair. It broke out of a strong daily trend line to the upside, however, I didn't take out the long position straight away as it may have been a fakeout, so i waited for a retest of the trend line and rejection in the form of a candle such as a hammer . When the hammer candle was formed on the 4HR time frame, i waited again for double confirmation, so then a strong bullish candle was formed and i took out the long position. I have placed my SL below the wick of the hammer candle, and TP at the next resistance level and psychological level 1.32.

TP @ 1.31996
SL @ 1.3068
R/R @ 2.0
Comment: SL moved to breakeven. If it goes down now it'll surely be heading down for a while.
Comment: Closed out position manually at a small profit.
Comment: Closed position because i got influenced by an opinion. Will keep tunnel visioned from now on.

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