Market Structure: Uptrend
Area of Value: Bounce on trend line(ema50)
Entry: Bullish candle after trend line
Exit if Right: Tranches in TF
Exit if Wrong: Below previous swing low. Invalidation of trend
RRR: 1:2
Note: This is backed by fundamentals of a weak CAD due to employment change
Area of Value: Bounce on trend line(ema50)
Entry: Bullish candle after trend line
Exit if Right: Tranches in TF
Exit if Wrong: Below previous swing low. Invalidation of trend
RRR: 1:2
Note: This is backed by fundamentals of a weak CAD due to employment change
Trade active
Move SL to 1.3060 - this is below ema50. Will give us some profits in case the trend reverses.Trade closed: target reached
TP 2 reached but I added one more position at the break of resistance. Moved my SL to TP1 and adjusted the TP to the new TP level based on break out You can view the Break out TF set up here
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.