USD CAD swing trade idea
Hey guys I have identified that USD CAD is currently in a downtrend on the 4 hour chart, there is also a bearish pin-bar that has formed.
I then went into the 1 hour chart which is in a down trend as well and is showing some candle consolidation.
I am looking to sell at the break of the low on the candle consolidation and I placed a stop above the high of the candle consolidation, the stop I am running is 160 pips with a profit target of 480 pips and I am using a 3-1 Risk to Reward ratio.
Always use proper risk management! This is just an idea for a setup and is not intended to be investment advice.
Comments are appreciated, Cheers!
I then went into the 1 hour chart which is in a down trend as well and is showing some candle consolidation.
I am looking to sell at the break of the low on the candle consolidation and I placed a stop above the high of the candle consolidation, the stop I am running is 160 pips with a profit target of 480 pips and I am using a 3-1 Risk to Reward ratio.
Always use proper risk management! This is just an idea for a setup and is not intended to be investment advice.
Comments are appreciated, Cheers!
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.