The Jamba Juice Trade

OK, I finally have a chance to log this one.

23:36 ET – L(5) USD/CAD @ 454, Target 4 @ 478, Stop @ 434, TS 1 @ 25 pips. Price was hanging around a major daily support level before the London open and had already bounced off that level a few times, so I decided to buy. There was also some MACD Divergence happening on the 4 hour chart.

Pivots

R2 575
M4 544
R1 512
M3 496
PIVOT 480
M2 449
S1 417
M1 401
S2 385

Since I bought between M2 and the Central Pivot, I would usually target 2 pivot points away, so between R1 and M3. But this time I wasn’t too comfortable with using a target that far away. Primarily because that was in the opposite direction of the dollar weakness, so I thought that I would play it a little conservative.

15 min


Daily

4 hr

Totals:

6:28 ET – Limit hit @ 478, +24 X 4 = +96 (+$9.16)
7:41 ET – Stop hit @ 459, +5 (+$0.48)
+101 (+$9.64)

Follow up: Good trade, maybe I shouldn’t have moved the stop on the 1 lot? The price hit the M3 pivot point.

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