So Strobot placed a USDCAD short yesterday that is 59 pips against us at the moment but appears to be pulling downwards.
The trade makes good sense let’s look at the daily chart.
As you can see the pair is very high – Fib wise near the top, it’s been in a bearish wedge for the last 5 or so trading days. Our short entry was actually taken early by a pin bouncing down and then back up again – not to worry 9 times out of 10 these pin bars indicate the market is going to move in that direction.
The hourly chart we can see STROBOT’s target (the bottom white dotted line), we can also see the market showing signs of moving bearish again – the market LOOKS like it wants to come down having rejected 1.26190 and then 1.26075.
I wait to see what happens but I hope STROBOT will be yet again proved right.
Update (12 hours later)
So we stopped out – but STRobot was actually right and placed another trade which will shortly not only cover the loss but make a profit overall
Now that is pretty cool trading!