USD CAD (usdcad) is retracing down...
Updated
Hi all,
Short this pair at current price of 1.33630 with an immediate target of 1.33000 SL of 1.34250 RR is 1:1.2.
Reason to short: price is retracing back for two days forming the resistant at 1.34250. Price will magnet to its 20 sma and previous resistant level of 1.32900. However, it's a good idea to exit a bit early if you are trading in one lot. If you have multiple lot exit your half position at target 1 and trail rest with break even SL.
Happy trading keep trailing.
Thanks.
Short this pair at current price of 1.33630 with an immediate target of 1.33000 SL of 1.34250 RR is 1:1.2.
Reason to short: price is retracing back for two days forming the resistant at 1.34250. Price will magnet to its 20 sma and previous resistant level of 1.32900. However, it's a good idea to exit a bit early if you are trading in one lot. If you have multiple lot exit your half position at target 1 and trail rest with break even SL.
Happy trading keep trailing.
Thanks.
Note
The SL given on daily closing basis is still intact. The target should be achieved by today today !!!Note
AS said yesterday, target was achieved.Thanks.
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