USDCAD broke lower, closing below the low of the fakey with pinbar trade setup I had taken into consideration. I lost about 45pips in this trade and the reasons are obvious: The inside bar trade setup at resistance pointed out in my earlier analysis of the 08/03/2013 had enough bearish pressure to send this pair this low. We now wait to see if we will get a break of this support or a resumption of the more dominant bullish trend. Price Action at this point is very crucial.
My Recommendation: Stay neutral and wait for Price Action reaction at this support.
No comments:
Post a Comment