USDCAD 4h timeframe buy at CMP

USDCAD buy at current market price targeting 1.29500 levels of fib retracement at 0.61. decent risk reward else we could look for a downside movement.

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I do not usually trade USDCAD but this was good opportunity, the Trade went as it was expected went about 100 pips towards the target and partial profit should be taken out when it went 100 pips in profit and should have moved stops past entry and run it risk free, or close it all positions

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we should have taken profit out of this pair when it went 100 pips in profit, and run it risk free but the trade still remains valid in my opinion and it hasn't hit the stop loss yet.

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Few days since posting the trade it is rejecting downside nicely and hopefully it could go a lot higher without touching the stop loss

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as I said it is rejection stop loss the trade went into profit about 100 pips or so and it kept consolidating for sometime before it went towards the downside below our stop loss before making new highs then back to new lows.

immygak

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immygak