USDCAD long idea

Potential area to go long here.

PLEASE NOTE comments made in last post in regards to price action and trade invalidation.

It is a Friday, be extra cautious!

Catatan

trade 10 pips positive, this is where if you are looking to manage your risk and book your profits you close partial positions, move stops to break even and let the rest run!

Catatan

For those still in this trade, I want to point out the fact price is currently retracing at 17 minutes into the NEW 4 hour candle.

Do not be alarmed, taking into account this information we know a lower wick must form, this pullback could most likely be that lower wick formation before the next move up. I am holding with stops slightly above breakeven. Because of the movement we have had so far, any losses from the Gold trade earlier have now been made back + profit.

It's a friday, as always take care!

Catatan

Update! Trade is now closed at breakeven with just over 1% profit from taking partials on the move up and moving stop loss to break even.

If a trade was taken on gold earlier for 1% then our losses for the day are covered as I am aware I didn't mention the trade was invalid after posting it.

FED J.Powell is speaking currently hence volatility for the USD, something I had forgotten about so it is worth noting that.

Well done guys, a successful trade that had a maximum gain of 2% and with correct management we took out our 1% profit+ and closed at break even!

FriesianFX

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FriesianFX

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