USDCAD short !!!
Updated
Straight forward and clean
Short it since it has a very strong positive correlation with my usdchf idea, cant see why not.
Plan of attack!!!
bears broke trendline on yesterdays close
wait for pullback to trendline which will act as new resistance (previous support)
poe - 1.28219
Then take tp1 at 1.26192 (38.2% fib)
tp2 1.24055 (61.9% fib)
Sl on redline (above bollinger resistance) - 1.29808
RR= 3:1
Trade Safe!!!
Short it since it has a very strong positive correlation with my usdchf idea, cant see why not.
Plan of attack!!!
bears broke trendline on yesterdays close
wait for pullback to trendline which will act as new resistance (previous support)
poe - 1.28219
Then take tp1 at 1.26192 (38.2% fib)
tp2 1.24055 (61.9% fib)
Sl on redline (above bollinger resistance) - 1.29808
RR= 3:1
Trade Safe!!!
Trade active
i decided to open a trade here on 1.27611I will be looking to add more trades if it continues to head near 1.28
Note
i have added more shorts on 1.28 level lets see how this goes.Note
Tp 1 almost reached... hang in there
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