USD/CAD LONG - Bullish Candle/Hammer/Breakout
Took a long on this pair. It broke out of a strong daily trend line to the upside, however, I didn't take out the long position straight away as it may have been a fakeout, so i waited for a retest of the trend line and rejection in the form of a candle such as a hammer. When the hammer candle was formed on the 4HR time frame, i waited again for double confirmation, so then a strong bullish candle was formed and i took out the long position. I have placed my SL below the wick of the hammer candle, and TP at the next resistance level and psychological level 1.32.
TP @ 1.31996
SL @ 1.3068
R/R @ 2.0
TP @ 1.31996
SL @ 1.3068
R/R @ 2.0
Note
SL moved to breakeven. If it goes down now it'll surely be heading down for a while.Note
Closed out position manually at a small profit.Note
Closed position because i got influenced by an opinion. Will keep tunnel visioned from now on.
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Publications connexes
Clause de non-responsabilité
Les informations et les publications ne sont pas destinées à être, et ne constituent pas, des conseils ou des recommandations en matière de finance, d'investissement, de trading ou d'autres types de conseils fournis ou approuvés par TradingView. Pour en savoir plus, consultez les Conditions d'utilisation.