USDCAD Short
A double bottom is now taking place on USDCAD at 1.36.
Price have now retraced and seems to be stuck under the 1.346 price zone (previous lower low).
Entry: market
Stop: 1.352 (few pips over the 0.618 retracement level on the 60min chart)
Target: 1.32 (0.764 fib retracement level + daily trend line)
Risk ratio: 3/1
Price have now retraced and seems to be stuck under the 1.346 price zone (previous lower low).
Entry: market
Stop: 1.352 (few pips over the 0.618 retracement level on the 60min chart)
Target: 1.32 (0.764 fib retracement level + daily trend line)
Risk ratio: 3/1
Trade active
Note
Stop was moved to breakeven.Note
Price touched the 0.618 retracement level and bounced back following the FOMC meeting. I might consider closing the position manually in profit and go back short when price reach back 1.3380.Trade closed: target reached
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