[Intraday Trade] USDCAD to extend to the top of the channel

Updated
Similar setup as the trade yesterday.
- DXY is starting to show strength again.
- The price came to the bottom of the channel and looks to have rejected to push up.
Trade active
Note
TP1 hit but DXY is really choppy. Fortunately CAD is weakening so this trade should get some decent profits, but those profits may be offset by my other open trade which isn't looking so hot.

NY just opened so lets see if we get the volume to get my trades going.

snapshot
Note
TP2 & TP3 hit. Hopefully we get continuation to hit the target.

snapshot
Trade closed: stop reached
Last night, I fell asleep after this trade hit the profit targets. It melted down.
Regardless, it hit T3 before it stopped out in profit so I can't complain.

As I look at it now, it broke the bullish structure. It looks like it may be a good opportunity for a short. If I enter, I'll post an update.
LONGTrend AnalysisUSDCAD

Also on:

Related publications

Disclaimer