Watching USD/CAD this morning to see how it handles this recent inflection level.
Looking for price to make a clean support/resistance play before taking an entry.
Looking for price to make a clean support/resistance play before taking an entry.
Trade active
Entry at 10:30am - 1.31392 fillNote
Playing the 10:30am candle close as an either side break situation. If we break the low I'll reduce the position by 25% and if we break the high I'll move to a tighter stop. Candle range is 1.31420 - 1.31342
Note
Trade reduced by 25%Note
Trade reduced by 50% Break lower invalidates the trade idea so scale out and will re-assess later.
Leaving 25% remaining.
Trade closed: stop reached
Shame this didn't work out, but was a little imperfect on the sup/res hold so perhaps that should have caused more concern over the entry.
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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.