elroytrader1

$USDCAD into Trudeau-Trump

Long
FX:USDCAD   U.S. Dollar / Canadian Dollar
$USDCAD likes to do inverted Vs. Ramp, consolidate, fade. So the mirror fractal isn't a bad fit. Also it's in a bullish descending wedge . Trump-Trudeau and the Wilbur Ross confirmation today can only be bad for NAFTA, but as often happens, (GBP & EUR into Brexit), counterintuitive trading occurs before the event.

So we have three technicals, and one fundamental reason to support this. The possible spike down is a problem for cash trades (buy 1.2950 would need 200 pips). Suggest an March monthly option, or layer-buy (buy 1.2950, add 1.2900, 100pt SLs ...)
Comment: Still inside, Trudeau was a non-event. Still looking for <1.30 to buy
Trade closed: target reached: Textbook!

Comments

Home Stock Screener Forex Screener Crypto Screener Economic Calendar How It Works Chart Features Pricing Refer a friend House Rules Help Center Website & Broker Solutions Widgets Charting Solutions Lightweight Charting Library Blog & News Twitter
Profile Profile Settings Account and Billing Referred friends Coins My Support Tickets Help Center Private Messages Chat Sign Out