USDCAD long / short opportunity on If / Then theory
Updated
Here on the USDCAD we are in a long term down trend, but we are currently on the "top" of an outside return - which means we are at a decission point where price can continue the longer term downtrend, or continue the short term uptrend.
On the chart we got a bearish Cypher formation at structure resistance, so IF price gets up to our PRZ level -Then we go short.
If price retrace down to the bullish Cypher formation -Then we go long at our PRZ level on a trend continuation trade.
Kind regards
Thomas Jeff
On the chart we got a bearish Cypher formation at structure resistance, so IF price gets up to our PRZ level -Then we go short.
If price retrace down to the bullish Cypher formation -Then we go long at our PRZ level on a trend continuation trade.
Kind regards
Thomas Jeff
Trade active
On bullish formation. The Bearish Cypher is invalid, remove ordersNote
Stop moved to break even
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