USDCAD lower
I like trying USDCAD lower here.
we've had a huge run higher recently and it's looking pretty overbought on a lot of metrics, there's also nice resistance as it is a pivot from covid level in 2020 and we seem to be forming some sort of triple top here.
yield differentials are the main reason for the move higher and we are now moving lower which should help.
sentiment is extremely high - i don't think there's much more room for the upside in terms of sentiment. We do have US CPI coming up which will determine if i exit the trade early or not.
not trading/investment advise, feedback welcome!
we've had a huge run higher recently and it's looking pretty overbought on a lot of metrics, there's also nice resistance as it is a pivot from covid level in 2020 and we seem to be forming some sort of triple top here.
yield differentials are the main reason for the move higher and we are now moving lower which should help.
sentiment is extremely high - i don't think there's much more room for the upside in terms of sentiment. We do have US CPI coming up which will determine if i exit the trade early or not.
not trading/investment advise, feedback welcome!
Note
sold 2% risk at 1.743 with 1.764 stop loss and USDCAD again at 1.383 with 1.401 stop lossNote
come out at breakeven on these
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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.