Closed USDCAD short @ 1.06525, breakeven

It seem that USDCAD isn’t about to die just yet. My USDCAD short got stopped out at breakeven this morning. In fact, the pair is still struggling around the descending resistance line as shown in Figure 1. It made a higher low so I won’t be surprised if it cracks higher.

USDCAD, 4-hour

The reason why I took this trade was that the opportunity seemed too good to pass on based on my analysis at the time. I always keep an eye on the market even when I’m not trading. Although the basic setup remains intact, the opportunity isn’t so fantastic that I couldn’t say no anymore.

Anyway, I shouldn’t be wasting time managing a minuscule trade. Back to staring at codes.

Related posts:

1. Short USDCAD @ 1.0654, Stop 1.077
2. Paper trade: Stopped USDCAD short @ 1.0540 for +131 pips
3. Paper trade: Stopped out of USDCAD short @ 1.0640 for -67 pips, re-entering @ 1.0680
4. USDCAD short target hit @ 1.0581, trying something new–to hold for longer
5. Paper trade: Short USDCAD @ 1.0671, Stop 1.0756, Target 1.05761