USDCAD Long Position
Entry: $1.26671
TP & RR: $1.27938 (2.25)
Stop Loss: $1.26107
REASONS FOR THE TRADE
Clear descending triangle with an increase in buying volume. Not much to say here, it is either going to go up in an explosive move or it will completely break down. I don't feel confident opening a short though. My long is very conservative with a Stop Loss below the recent low. The RR is somewhat decent, but I would definitely not rush to close my position once we are out of the triangle.
Entry: $1.26671
TP & RR: $1.27938 (2.25)
Stop Loss: $1.26107
REASONS FOR THE TRADE
Clear descending triangle with an increase in buying volume. Not much to say here, it is either going to go up in an explosive move or it will completely break down. I don't feel confident opening a short though. My long is very conservative with a Stop Loss below the recent low. The RR is somewhat decent, but I would definitely not rush to close my position once we are out of the triangle.
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