USDCAD Bearish Analysis
The price is preparing itself to deceive the traders... Friday Pin Bar suggest to sell the trade immediately on which many traders might be tended to ride. In my view It may touch that 38% - 50% Fib Level drawn from low of current daily swing and then reverse back.
My Bearish Scenario is as follow:
If the price bounced back from Fib levels and give us candlestick confirmation @ 1.3200 - 1.3215 area or @1.3250 - 1.3250 area
Stay tuned for the signal in case the above mentioned analysis proved....
My Bearish Scenario is as follow:
If the price bounced back from Fib levels and give us candlestick confirmation @ 1.3200 - 1.3215 area or @1.3250 - 1.3250 area
Stay tuned for the signal in case the above mentioned analysis proved....
Note
The Pair has crossed and retraced from 1.3200... Now we need to wait for another candlestick confirmation to go bearish in this pair.Note
SignalSell Stop @ 1.3170
SL 1.3230
TP 1.3050
My each risk is 2% of my account.
My lot size for this trade 0.05
Risking pips 60
Rewarding Pips 120
patience is necessary.
Note
Sell at cmp 1.3223SL 1.3270
TP 1.3100
Trade active
Sell at cmp 1.3223 SL 1.3270
TP 1.3100
Trade closed: stop reached
Lost Pips 47 pips
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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.