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03/13/2009 USDCAD Trade

Written by Hugh, on March 14th, 2009

TriScreen Trade

Long 2 (150) USDCAD @ 2781 and 2780
Stop @ 2695 (-86, -85)
Target 1 @ 2895 (+114)

Click above for larger image

Click above for larger image

Long wicked candle with TriScreen setup gave me a resonable setup to go long.  Price was also ranging around the pinching of the 62 and 200 EMAs, so it was concieveable that it might go back into the range.  Instead, I was stopped out for a -85 and -86 pip loss, for a total of a -171 pip loss.

In hindsight, he divergence was iffy because it wasn’t a clear cut case of divergence.  the MACD was almost even at that point, but I still think it was a pretty good trade.




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