USD/CAD SHORT - Breakout/Retest/Shooting Star/Double Top
Took a short on this pair with a good R/R. The pair has broken out of the channel ascending upwards, it also created a double top earlier an headed downward, now it's broken out of the channel, retested it on the H1 as you can see by the wick of the shooting star 4HR candle. A shooting star candle was created, and now should be heading downward to complete the double top formation. The monthly bias is also short. Top down analysis always.
Note
Pair has melted downwards. SL moved to small profit above next resistance.Note
To breakeven actually.Note
Exited trade for half of target 2.5 R/R achieved. Heavy resistance on the H! chart could be trending upwards now. Wanted to exit all trades for the week.
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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.