Missed 220 pips on USDCAD? Here is your chance to sell it now
Last week we picked the USDCAD bottom really accurately and it moved from 1.2490 to 1.2710 effortlessly. The move even caught us by surprise and we only netted 80 pips.
Now this pair is overbought and looks ready to be shorted.
1) H1, M30, M15 is OB on RSI
2) Divergence showing
3) Last week's high will be resistance.
Won't be in a hurry to short this though. It will need to show us that it is willing to come down and this should be most visible by Monday evening SG time. If this happens, we can have a tighter stop loss and target 1.26 as our initial profit level.
Now this pair is overbought and looks ready to be shorted.
1) H1, M30, M15 is OB on RSI
2) Divergence showing
3) Last week's high will be resistance.
Won't be in a hurry to short this though. It will need to show us that it is willing to come down and this should be most visible by Monday evening SG time. If this happens, we can have a tighter stop loss and target 1.26 as our initial profit level.
Trade active
Sold this trade at 1.2713. This trade continues to move up. Reduced half the position with a small loss at 1.2750. Likely to exit the rest with a small loss.Trade closed manually
Entered way too early. Paid the price for being aggressive and cut the trade quickly. 25/04/22 DEAL USD/CAD Mini converted at 1.084889046829425 SD-6.35
25/04/22 DEAL USD/CAD Mini converted at 1.085227327089795 SD-20.51
Funds: SD10,132.05
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Related publications
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.