The final Yolo - Risk Reward 1:3

Technicals:

  • Falling wedge
  • RSI Divergence: There is a higher low on the RSI


Fundamentals:

USOIL:
snapshot

The Crude Oil outlook is down, but everything is up in the air because of OPEC manipulation. A clearer outlook will appear when the price is out of the ichimoku cloud.

DXY:
snapshot

The US dollar index is in a parralel channel upwards, and has not been able to break this for a year.

Actions:

Entries:
I will be scaling in my longs from 1.30258, as the price has not been able to break here for the past week.

1.30258 -> 1.28978

TPs:
I will be taking profits at these levels as this will be a long term trade ( Several Months? )
1.31690
1.32247
1.33375
1.34369
1.35242
1.36388

SLs:
if it breaks the falling wedge
Falling WedgeFundamental AnalysisrsidivergenceSupport and ResistanceUSDCADWedge

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