Shared by
Ninjon
DETAILS
TP: 1.27605 (+$147)
SL: 1.29355 (-$124)
INITIAL THOUGHTS
Price looks like it bounced off resistance two candles ago for the week. Month is looking like it will be a red candle. Sentiment is showing 60% shorting. Daily candles are just about to touch the 50 MA which looks like it's about to curve downwards. Price might possibly cross under. Daily MACD and RSI are in a downtrend. 1h and 4h are neutral.
UPDATE
REFLECTION
Trade failed. My stop was hit. Buyers came out of nowhere at 4:00 AM and are driving the price way up. Looks like it's about to actually touch the channel resistance. Because this move is so strong, I'm going to look for the retracement rebound short trade right after.
Execution detail:
| Date/time | Symbol | Side | Price | Position |
|---|---|---|---|---|
| 2022-07-04 22:44:39 | USDCAD | sell | 1.28555 CAD | short |
| 2022-07-05 06:58:23 | USDCAD | buy | 1.29356 CAD | 0 |
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