USDCAD SHORT TRADE ON 4 HOUR CHART
Updated
ONLY PLACE TRADE IF RISK TO REWARD IS <1
ENTRY PRICE: 1.29405
STOP LOSS: 1.30160
TAKE PROFIT 1:. 382 RETRACEMENT
TAKE PROFIT 2:. 236 RETRACEMENT
TAKE PROFIT 3: 1.29788
KEEP IN MIND THAT PRICE MADE HIGHER HIGH, AND CLOSED BELOW THE TEMA WITH A SHOOTING STAR CANDLE
-RSI BEARISH DIVERGENCE, LOWER LOW, OVERSOLD
- MACD MOMENTUM GETTING BEARISH BUT NO LOWER LOW OR BEARISH DIVERGENCE
PLACE STOP LOSS TO BREAK EVEN WHEN PRICE HIT'S FIRST TARGET
LOOK OUT FOR ECONOMICAL EVENT'S
THIS IS JUST MY ANALYSIS IT COULD BE RIGHT OR WRONG.
PLEASE LEAVE POSITIVE FEEDBACK, CRITICISM, YOUR THOUGHT'S AND YOUR IDEAS
lIKE IF YOU FOUND THIS USEFUL AND FOLLOW ME FOR MORE IDEAS- I WOULD REALLY APPRECIATE IT
GOOD LUCK, TRADERS
Trade active
Comment
Almost got stopped outTrade closed: target reached
T1 is reached place sl to break evenTrade closed: stop reached
stopped out with no loss
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