USDCAD short trade gets a trendline
The USDCAD trade is now 17 days old and is making slow progress. After riding out a bullish candlestick pattern last week I have been able to draw the first bearish trend line, this is always a good sign, it means a lower high is in place adding extra confirmation to the bearish scenario. I consider myself a forex value investor and trades typically last 6 months or longer, this initial phase is always the most difficult. I am always trying to get into a trend as early as possible and many of the trades fail when the trend does not develop. Still major fundamental headway for this trade and a resistance zone that held last week however I continue to hold short
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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.