USDCAD SWING ANALYZE / SHORT
Updated
Hello dear friends
I hope we start a very good week.
There is a good position in the currency pair of the US dollar to the Canadian dollar
And I drew two movement patterns for this currency pair.
In short, this currency pair has weekly and daily resistances, and due to the decrease in momentum, we can think about short trades.
If the drawn trend line breaks with good strength and seeing the entry trigger, we can enter the short trade
And if the price goes up, we can take the risk on the resistance areas and enter the short trade.
The loss limit should be placed behind the pivot in the first case and behind the resistance level in the second case
Thank you for telling me your opinion
I hope we start a very good week.
There is a good position in the currency pair of the US dollar to the Canadian dollar
And I drew two movement patterns for this currency pair.
In short, this currency pair has weekly and daily resistances, and due to the decrease in momentum, we can think about short trades.
If the drawn trend line breaks with good strength and seeing the entry trigger, we can enter the short trade
And if the price goes up, we can take the risk on the resistance areas and enter the short trade.
The loss limit should be placed behind the pivot in the first case and behind the resistance level in the second case
Thank you for telling me your opinion
Trade active
Most likely, pattern number one is happeningWhen the trend line is broken or any other trigger you have, you can enter into a short trade
Trade closed: target reached
In this currency pair, pattern number 2 happened and nearly 190 pips have been lost
According to the breaking of the trend line and the conditions of the dollar index, which you can see in its own analysis
There will be a possibility of a further price drop in this currency pair
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.