Forex Trade Idea #107: Long USDCAD (Closed -80)

Posted by Arnold Diaz
Friday, January 8, 2010 1:39
Posted in category Forex, Trade Signal

Bullish Gartley harmonic pattern on the 4-hour chart. Entry on the hourly chart.

Buy price is at 1.0310 (127% fib extension) and If the price closes above that blue line, that’s a buy for me.

B: 1.0310 / Trendline break
S: 1.0280
T: 1.0530 / 1.074

Move your stop to break even when 1.046 is hit.

Disclaimer:
Foreign exchange trading and investment in derivatives can be very speculative and may result in losses as well as profits. Foreign exchange and derivatives trading entails a considerable risk factor and is therefore not suitable for every investor. Absolute Traders does not take into account special investment goals, the financial situation or specific requirements of individual users. Hence, you should carefully consider your financial situation and consult your financial advisors as to the suitability of your situation prior to making any investment or entering into any transactions.

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3 Responses to “Forex Trade Idea #107: Long USDCAD (Closed -80)”

  1. Arnold Diaz says:

    January 8th, 2010 at 8:23 pm

    Trade opened at 1.0310

  2. Arnold Diaz says:

    January 12th, 2010 at 2:18 am

    In case you’re wondering why this trade is still open, I adjusted the stop to 1.0249: http://www.absolutetraders.com/forum/viewtopic.php?f=4&t=266#p6217

  3. Arnold Diaz says:

    January 13th, 2010 at 12:20 am

    Price crossed the blue line. Second trade opened at 1.0360. Stop loss at 1.0280, Breakeven at 1.0450, target at 1.0500

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