#USDCAD Butterfly Setup #forex
Looking for selling opportunities a bit above the current market price on USDCAD. A butterfly pattern forming after a strongly extended move could bring us some correction and we may even trade back down towards the bottom of the range.
It is hard to know how strong the buyers are at this point, so we are going for a conservative target of 60 pips (20 risk) and then may look for additional chances to sell if we see price action suggesting the bears are stepping in more strongly.
It is hard to know how strong the buyers are at this point, so we are going for a conservative target of 60 pips (20 risk) and then may look for additional chances to sell if we see price action suggesting the bears are stepping in more strongly.
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