Short

USDCAD Short Trade Setup

By WaveAnalysis

Updated

Hello traders.

We have another short trade setup in USDCAD. I hope this time it will go down to my target:

Trade active

Note

Nice drop. It broke the trendline. I will wait for a bigger correction in order to take another short trade. If you didn't take this one, please don't try to catch the drop anymore. Just wait for a correction. You can move your stop loss to break even if you want. I'm not touching yet.

Note

It can go up in order to create a bigger correction or it can make a small flag for more downside. If I see any one of them, I will take another short trade.

Note

move stoploss to breakeven.

Note

Another nice drop. My current profit is almost 5%. I think it is time for closing half of the trade.

Note

I moved the stop-loss of the first trade to the entry price of the second trade. I'm expecting a deeper correction because of the divergence. Now, I'm waiting for a small correction in order to close both trades manually. In worst case scenario, my profit will be 5% of my account and if it makes a small correction my profit will be 7-8%.

Trade closed: stop reached

Closed with 5% profit (almost 500 pips). I wasn't in front of the computer, I hope some of you closed your trades after pull back with better price as I said in the previous update.

WaveAnalysis

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