USDCAD - Wont be surprised if USDCAD Digs big grave today (or tomorrow) - Too many Bearish Odds stacked since many days/weeks (and path of least resistance is DOWN) WATCHOUT P.S. Infact other Commo CCY's can shine too
So , you as a little river walk against Amazon ? Good luck then : P.S Price lead, fundamental follows. They always will be with one step ahead the crowd . They can say anything. What is count are their money, what they are doing with them. And only price show that. Btw, don't take offensively, it's not my intention. {image}
{quote} After stopped out with 0% lose (initially trade was covered before news release) I am looking again for buy as long as bullish trend remain intact. This setup is more risky , I 'll look to cover as soon as possible after a buying surge. If it's a strong breakout then I will make profit, if not , at least I will assure I will be at breakeven with my balance. Here the entry : {image}
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Time to lock little profits from covering action by moving SL @ slightly above entry level . If the price continue upward then we go for trailling, if not, then at least we got little profit. 1.3453 as decent take profit level. This provide a 1:2 risk:reward trade (1:4 risk:reward after we covered). It is enough to recuperate a prior loss (in case you lost) and make one step ahead with profit. The trade have big potential to give more reward but I think a 1:2 risk:reward is decent and a good way to control your greed. {image}
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New trailing stop level (for those who are trailling, I already exited as my trading style is scalping) : {image}
{quote} Tp should be hit now and we got a green trade with 1:2 Risk Reward and aggresive risk management . I will update later new levels for stoploss as new informations arrive. This area have good potential to become a Big Move that can gain x10 initial risk, and so on. A 1:15 risk reward trade is possible too, because we are in multiple timeframes alignment. {image}
