Anatomy of a Trade: USDCAD
In this first edition we look at a long trade around the 20 week low in October 2021.
The Setup
Twitter is very useful for traders because we can go back and examine the performance of an analysis over time, which lends itself to this kind of helpful insight for readers of Sigma-L. In this first edition of a series where we look at entering, managing and exiting trades using Hurst Cycles, USDCAD will be our initial candidate.
Price had moved from a low of at least 40 week magnitude in June 2021, which itself was a great swing trade targeting the 18 month FLD resistance (prior to the start of the Sigma-L site!). In mid September price began the move down to a 20 week nominal low, expected mid October and driven by resistance at the 18 month FLD (yellow).