The USD has had some movement and against the CAD has provided two cycles of cyclicity and good price action setup to enter in a short position. Im entering if a new low is created on the daily charts and have my stop positioned above the 8hr indecision bar. For this trade I am looking for a 1:1.7 trade.
Trade active
Comment:
Trade moved nicely intro the profit area and has gone almost to a 1:1 position. I am moving my stop to break even removing all risk and allowing the trade to continue.
Trade closed manually:
This trade moved back up and took out my break even stop. So no winning trade here but no loss either and that's what its all about. Preserve that capital.