Yesterday I described that I was looking for a buy in USDCAD and what I was looking for. All variables were in place and the CAD data triggered me in the pending buy order. I will close 50% of my position when my intra day targets get hit for risk/reward of 4/1 =8% but since I close 50% it will be 4%. The rest I keep on the table and I will be looking to add once we see the consolidation.
My post of yesterday:
www.timstuyts.com
My post of yesterday:
www.timstuyts.com
Comment:
Comment:
USDCAD did it again and is a perfect example on how a major consolidation can give you many fantastic trading opportunities. It might be hard to count some corrective patterns but this is where inter market analysis comes in, where understanding dynamic and leading structure comes in. I've been buying USDCAD after pretty much all dips and posted those set-ups here on Tradingview. A break lower sooner (and therefore continuation of bear trend) was almost impossible in my opinion. I hope you guys were able to join me at least on a few trades. And the best thing is, this isn't over yet. I'm still looking for at least 1.33 and buying after consolidations is what I'll be looking for.
