USDCAD Trade Idea# Classic breakout and retest setup. Resistance popped and price came back to test as support and print a hammer (buy signal). If you switch to the daily time frame and look at the previous high its a long way to go, so with 163 pip reward the cost of opportunity of 30 pips sure is worth it!
# I have bought at market price 1.34834
# Stop loss 30 pips below the hammer @ 1.34537
# Take profit at previous swing high seen on D1 @ 1.36465
As usual don't bet the farm, good risk management won't kill you but the lack thereof could :)
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