USDCAD has been on a strong uptrend. The uptrend momentum is now cooling down and we expect a pullback . Previous weekly candle gives as a signal of a short term pullback. The formation of the bullish bat is also a strong indicator.
entry = within the red zone
stop loss = 1.3460 (just above the D - leg)
target 1 = 1.2963 (38.2 % )
target 2 = 1.2689 (61.8%)
For conservative traders. wait for a short signal on lower time-frames for entry.(a break of the trend-line in the hour time-frame)
Goodluck
entry = within the red zone
stop loss = 1.3460 (just above the D - leg)
target 1 = 1.2963 (38.2 % )
target 2 = 1.2689 (61.8%)
For conservative traders. wait for a short signal on lower time-frames for entry.(a break of the trend-line in the hour time-frame)
Goodluck
Note
break and close below trendline with a bearish candle can be a good signal for traders willing to wait or those that can add short positionsTrade active
Note
we will be adding more positions since we have a strong downtrendTrade closed manually
AWAITING CANADIAN NEWSNote
We closed our trade too early. No worries tho. the pair seems to hold and give more short opportunities . We might witness a case of thousand of pips too. Note
Note
sell at 1.3040 if price hits that region again.Note
long wicks pointing up shows how much price is rejecting any pullbacks.Trade active
Take profit 1 reached
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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.