USD/CAD

[ukfitness]

Price has been Bearish since March last year and has found support twice at 10220on Oct. & Jan. Price broke through that resistance on the 12th and went back up to it today. The level is now resistance and the 1 hour chart shows an excellent short entry at the 4pm candle. Entry below the Doji @10210 with target 1 @10170, target 2 @10150 & target 3 @10105. SL above the candle @10235.

[ukfitness]

1 hour chart showing entry candle at resistance /previous support @10220.

[ukfitness]

Target 1 missed by 1 pip, SL moved to 10200.

[ukfitness]

Target 1 hit @10170

Target 2 hit @10150

SL moved to 10170
9am 17th March target 3 is 10 pips away, SL moved to 10140

[ukfitness]

Target 3 hit (1pm 17th). @10105

Result: 1 lot @ +40 Pips, 1 lot @ +60 pips & 1 lot @ +105 pips total +205 less spread, 3 lots each @ 4 pips spread each total -12 pips.
Net pip gain +193

[ukfitness]

Price broke support & I waited for a pullback because of the long Harami cross formation.

Spot FX USD_CAD pending(12-NOV-10).png (10.07 KiB) Viewed 10135 times

Price pulled back to the sinking res & I entered short @10095 under the hanging man engulfing with stop above the high -15. Target hit for +50

Spot FX USD_CAD+50 (12-NOV-10).png (11.67 KiB) Viewed 10135 times

[ukfitness]

Price rejected Daily R1 & broke out to the downside. Entry @209 stop -25 target +50.

Closed position @ +35 as market closing for the weekend.