The price is up

45
Due to the data released, FOMC and the inflation rates in Canada, the pair surged up which is against my analysis.
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# Why did I get into this trade?

1- Price had reached to the supply zone (grey shaded)
2- Price action had shown up (inside the supply zone)
3-Price had broken the uptrend on the 1H chart
4- RSI was showing divergence on the 1H chart
5- I had the chance to enter the trade with good ratio (money management). I opened the trade with a small margin, put the stop loss above the supply zone and put the take profit at the swing low with more pips than the pips to the stop loss (positive ration)
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# Why price is going against my strategy? what was my mistake?

I did not make fundamental analysis. I ignored the data released about US and Canada depending only on the technical analysis on the chart.
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# What is coming up?

- Price is still in the supply zone and may probably come down again
- It did not hit my stop loss as I had put it above the zone
- If it hits the stop loss it is okay for me as I am managing my trade properly with the right margin
- If it comes down I will close the deal at the break even point as we are at the end of the week and god knows what is going to happen by the next week

Thank you

Aviso legal

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