I have opened a short position on USD/CAD. I believe it will be going lower and will consolidate to the weekly support level.
The pair has recently broken the 4HR trend line supporting it, and now looks to move lower.
At the moment the price has retraced slightly to a small resistance area however should be forced back downwards towards weekly support.
SL @ 1.35325
TP @ 1.33943
R/R @ 2.0
The pair has recently broken the 4HR trend line supporting it, and now looks to move lower.
At the moment the price has retraced slightly to a small resistance area however should be forced back downwards towards weekly support.
SL @ 1.35325
TP @ 1.33943
R/R @ 2.0
Note
Moved SL to breakeven, risk free trade.Note
50% of target achieved.Note
Moved SL to +25 pips, 80% target achieved.Trade closed: target reached
Target achieved. Price touched the weekly support level. A nice setup.
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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.