USDCAD Beautiful Rotation From Buy Line Fade
The overnight always seems to have the most fun. Last night and early morning reports certainly didn’t help the EUR GBP markets. The US session really didn’t have a chance of any any type of volatility and it showed.
The USDCAD was the trade of the day from the upper range level of 1.30683 placing a stop above the 1.30753.
Once the trade broke lower than the upper range level the stop was moved to above 1.30683. After it confirmed the red sell line the stop was adjusted above 1.30525. Once the market moved with 50% of the target level of 1.30025 the stop followed behind the rolling average until target was filled.
Advanced Trading Note:
Whenever taking a buy or sell line fade and the market confirms the other side of the buy or sell line, you can add a position and adjust your stop for a possible better return while still staying green even if the trade takes you out of the market.
That is the perfect and proper time to add additional risk.