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Closed Trade: USD/CAD Short 8/30/2017

Mosaic 55 - Forex

Closed Trade: USD/CAD Short 8/30/2017

Short USD/CAD at 1.2522  on 8/30/2017.    Initial Stop Loss  1.2558

Loss: 36 pips

Short position established at pseudo inside bar near a declining 200 HR SMA with negative divergence on Stochastics. The trade initially looked promising drifting down to the 1.2500 level before the USD found a bid and quickly broke higher up to and over previous resistance as many dollar shorts were squeezed out of their positions and scrambled to cover. Good trade and a minor loss. On to the next one.

 

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