USDCAD Long bounce on trendline with Bullish engulfing
Date Pair Direction Trade Trend Level Signal Entry
2019-10-22 USDCAD Long Counter Trend Side Dynamic Engulfing break
2019-10-22 USDCAD Long Counter Trend Side Dynamic Engulfing break
Note
Moved stop to BENote
Moved stop to 0.1R.Note
Moved stop to 0.8RNote
Moved stop to 1.25R.Trade closed: stop reached
Stopped out at 1.25R.Looking back I have set the SL to tight and the trade was closed too early. I could have held until the target. Then again price could also have dropped lower.
Looking at it from a risk to reward perspective:
I would have left 0.5R on the table to make 1.3R extra on the trade. That is a RR worth taking.
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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.