Technical Analysis and Potential Break Setup USDCAD
Updated
Currently bearish on this pair, but a lot still left to be seen. Potential short-term sell opportunity if exhaustion forms around current price point, indicating a likely move down to the bottom of the current channel. Once it reaches the bottom, a break to the downside has a high probability of happening due to an extended period of time spent within said channel. Upward trend weakness can be seen, signaling an imminent reversal.
Trade active
Took a short after some good bearish continuation formed in our area of interest. Will look to move stop loss to BE if the first target is reached. LET'S GO!Comment
A little bit of a late entry, but still should give some pretty good PIPsTrade closed manually
Closed before the weekend. Took profit and avoided swap
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.