USDCAD ST looking to LONG with a target at 1.2710
Updated
Looking at 
USDCAD
USDCAD- H4 Chart, clearly it's been a strong downtrend for few weeks and created a 8-weeks low at 1.25249. Beginning of last week USDCAD was clearly showing a strong selling volumes control over the market and the momentum stopped by 11/4/2018 and over here I would assume that most of the selling volume had TP.
Thus, with the information that I have as below:
1. Divergence showed over the indicators of MACD & OsMA.
2. Counter-trend impulsive. (Took out the latest high on 16/4/2018)
With those information that I have, I would like to go for a Short Term Long position near 1.2590 region, SL @ 1.2535 and targeting 1.2710.
However, this trade's gonna last for maximum 2 days as I mentioned above that this is just a Short Term trades & looking at the long term view, USDCAD still remain bearish bias as long as the market price hold below 1.2820 region.
Trade active
Order triggered last night and SL moved to BE point.Comment
Profit holding 80++ pips.Trade closed manually
Closed at 80++ pips! Short term trade don't hold for too long.
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.