Following the trend 2 - USDCAD - retest entry
After the Bears took control at 1.36500, a very strong bearish momentum has pushed the market in a strong downward trend, retesting off resistance zones as it continues to decline.
As our previous trade successfully closed breaking past both of our targets. We are looking for another retest entry to profit from the bearish momentum.
Steps needed:
-Price needs to break past the support zone
-Price must make a corrective movement back to retest the broken support zone.
-We short the pair upon the confirmation of retest of 1.32536
As always we'll have multiple targets.
Our first target will be at 1.31961
Our final target will be at 1.31611
Happy Trading
-Juff
As our previous trade successfully closed breaking past both of our targets. We are looking for another retest entry to profit from the bearish momentum.
Steps needed:
-Price needs to break past the support zone
-Price must make a corrective movement back to retest the broken support zone.
-We short the pair upon the confirmation of retest of 1.32536
As always we'll have multiple targets.
Our first target will be at 1.31961
Our final target will be at 1.31611
Happy Trading
-Juff
Trade closed: target reached
Target 1 reachedTrade closed: target reached
Target 1 reached move SL to Breakeven.
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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.