Counter trend opportunity to the long

14 lug 2017

There is potential for a counter trend trade of USDCAD at the daily level. We just had a large move down, and now the RSI is under 30. Price action is currently at historical support levels around 1.2713. I would enter long at 1.2713 and look to take targets at the .382 retracement around 1.3111 with stops 1.2427. This trade setup presents a 1.39 risk reward ratio. More aggresstive traders can target the .618 level around 1.3371 level. This presents a 2.28 risk reward ratio. If targets are hit, then enter short for a trend continuation trade on the current downtrend.

26 lug 2017

Trade attivo

This trade is actually still running as stops have not yet been hit, but it looks like the bulls might be building strength for a push. At this point, we might be looking at the down trend to reverse into an uptrend if enough buyers come into the market.

31 lug 2017

Trade chiuso: obiettivo raggiunto

Both targets have been hit as the bears grab hold of the bulls and rip them apart into bloody pieces of chewed up steak.