USDCAD long trade on 2/12/24
Pre-Analysis:
- Trade based on H4 timeframe. Strength meter was USD = +1, CAD = -2
- Plan to target for 2R.
Entry:
- Entry time 10:29pm (New York session)
- Immediate strength meter
Post Analysis:
- Scratch trade on 3/12/24 around 12:04pm because I am feeling this price will hovering around this level and might hit my stop.
- Price didn't advance as what I hope and it is best to avoid lost.
- Will see if price still has potential to rise on next trading day (3/12/24).
- Should I consider to take profit at 1R as the overall strength meter didn't show significant strength between USD and CAD. That was a better decisions than this very tiny win.
- Strength meter USD and CAD for entire trading day.
- All currencies strength meter
