USDCAD Starting a new downtrend
- Price is forming a Lower Low next to a support area
- Stochastic indicate oversold
- I expect the price to retrace around the price of last minor swing high
Entry
- Waiting for the price to retrace toward last minor swing
- Once price bounces back, wait for the price to cross below the newly formed Lower Low
- Entry below support area at 1.30100
Exits
- S/L a few pips above Resistance area
- T/P few pips above next zone
- Stochastic indicate oversold
- I expect the price to retrace around the price of last minor swing high
Entry
- Waiting for the price to retrace toward last minor swing
- Once price bounces back, wait for the price to cross below the newly formed Lower Low
- Entry below support area at 1.30100
Exits
- S/L a few pips above Resistance area
- T/P few pips above next zone
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.