Looking for a long entry for a retest of the week high

Weekly/Monthy market structure is up for USDCAD. Canadian fundamentals are weak with oil prices at historic lows, Gold helps but any pushback on the price of Gold will simply make USDCAD explode to upside.

I am only looking for Longs within this market at the moment. I Got stopped out of initial long at 1.4000 because I added size too quickly, so looking to get back into the market at support with a nice 3:1 R:R

Note

I started the long at 1.40371 instead. The price action was moving too quickly for my taste so I reduced risk on the trade.

Note

Moved stop to 1.39925 as well. Bears are hungry. :)

Note

Looking like offer has dried up. Back to entry now. Will start looking to add to position

Note

Still haven't added to long yet. Lots of overhead resistance at 1.4120. Will wait for a 1h close over that level and start looking for pullback buys on shorter time frame. Still leaving the stop where it is for the moment.

Note

Looking like we got the necessary support to push this higher. Oil Bulls are giving up...

Going with a double-down stop buy order @ 1.41235

Trade closed: stop reached

Couldn't add, market hit's support. Will re-assess.

frank.germain

Also on:

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.

frank.germain

Also on: