EURCAD - 12102016 - LONG - CLOSED WITH sub 1 percent LOSS

This one was a spur of the moment decision. At that point in time, it seemed like all systems go.

Reasons for this to go
1) Oil was on the way down to 50 dollars at that time.
2) CAD showed signs of weakening.
3) EURUSD was on their way and seemed like about to rebound
4) Price was almost at algo line. Parabolic SAR was positive.
5) Price was bouncing off channel bottom.

Later on:
1) Oil had a bit more juice in it and managed another weak rebound.
2) Channel bottom drawn was breached.
3) Loss was sub 1 percent - about 0.8 percent as compared to the 1:3.5 RR I was planning.

Takeaway-
1) do not be too eager to jump into another position.
2) Simply too many EUR trades today.