USDCAD Going Short (short term trade based on Strategy 1)
Analysis:
Price action broken the trend line and strong resistance ahead and continuous selling pressure. that's why going short and Plan A is excuted.
Because the Trend is Bullish over the 1D & 4H the reversal is expected and if Resistance is broken then Plan B will be executed.
Plan A:
Short
1H candle
entry 1.36347
SL: 1.36900
TP1:1.35806
TP2: 1.35239
Plan B:
Long
1D chart
if resistance is broken at 1.36900
Entery: 1.36700
SL: 1.36373
TP1: 1.37481
TP2: 1.38022
Price action broken the trend line and strong resistance ahead and continuous selling pressure. that's why going short and Plan A is excuted.
Because the Trend is Bullish over the 1D & 4H the reversal is expected and if Resistance is broken then Plan B will be executed.
Plan A:
Short
1H candle
entry 1.36347
SL: 1.36900
TP1:1.35806
TP2: 1.35239
Plan B:
Long
1D chart
if resistance is broken at 1.36900
Entery: 1.36700
SL: 1.36373
TP1: 1.37481
TP2: 1.38022
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.
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.