[Read this trading setup : USDCAD]

Here is a quick update on my long USDCAD setup. As you can see on the chart below, I was able to long at 1.3009 or above the 4-hour Bullish 2-bar reversal. I put an order above the bullish 2-bar reversal as a confirmation that the price ‘want’ to move higher. As a result, price reaches my first target at 1.3075 and I managed to get 66 pips from the first position. For my second position, I just adjust the stop-loss level to break even (BE) level at 1.3009, just like I said on my trading plan. So this is a free trade for now. 

Here is the summary of my positions:

OP: buy at 1.3009, SL: 1.2905, TP 1: 1.3075, TP 2: 1.3150

Position 1: +66 pips

Position 2: adjust stop-loss to break even level at 1.3009

USDCAD 4-hour chart


Follow me on twitter and facebook also google+ for more analysis.

Don’t forget to see my latest trading setup on:



Leave a Reply

Fill in your details below or click an icon to log in: Logo

You are commenting using your account. Log Out /  Change )

Google+ photo

You are commenting using your Google+ account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )


Connecting to %s

%d bloggers like this: