USDCAD SHORT OPPORTUNITY - WILL THE DOWN MOVE CONTINUE?
Updated
Price has tested the orange trendline before reversing quickly.
With the higher time frames - weekly and daily being bearish, sellers are still in control.
On the lower timeframe on the M5 there was a double top pattern a couple hours ago which I entered on. However it is still not too late to enter on this trade for a nice short.
Risk to reward of 2.5. Not every single trade has to be a winner to make money.
I had a loss yesterday on GBPUSD, so if this trade doesn't work out I'm done for the week. MAX 2 losses per week.
Let's get these pips!
TARGET IS THE BLUE LINE. But I'll keep you guys posted depending on what happens.
Daily trade analysis and ideas:
Telegram: t.me/Forexdojo
Facebook: facebook.com/FXShinobi
Twitter: forex_dojo
Instagram: instagram.com/jaylen.forex/
Website: forexshinobi.com
ForexShinobi
With the higher time frames - weekly and daily being bearish, sellers are still in control.
On the lower timeframe on the M5 there was a double top pattern a couple hours ago which I entered on. However it is still not too late to enter on this trade for a nice short.
Risk to reward of 2.5. Not every single trade has to be a winner to make money.
I had a loss yesterday on GBPUSD, so if this trade doesn't work out I'm done for the week. MAX 2 losses per week.
Let's get these pips!
TARGET IS THE BLUE LINE. But I'll keep you guys posted depending on what happens.
Daily trade analysis and ideas:
Telegram: t.me/Forexdojo
Facebook: facebook.com/FXShinobi
Twitter: forex_dojo
Instagram: instagram.com/jaylen.forex/
Website: forexshinobi.com
ForexShinobi
Note
Price is starting to go down. First take profit at 1.3075 reached. Next target is 1.2975!
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