Hi.
I think short from this level is worth a risk.
After incredible dollar strength on Friday and multiple sweeps, major pairs fallen into demand zones, and because of big long positioning on canadian dollar for commercial banks, I am expecting USDCAD correction.
My safe target is 1.371 - and this is where I am planning to close the position for this week.
Play safe.
Risk Reward : 1:4
I think short from this level is worth a risk.
After incredible dollar strength on Friday and multiple sweeps, major pairs fallen into demand zones, and because of big long positioning on canadian dollar for commercial banks, I am expecting USDCAD correction.
My safe target is 1.371 - and this is where I am planning to close the position for this week.
Play safe.
Risk Reward : 1:4
Trade closed manually
Close the trade in B/E now. The structure is not what I expected.I was able to profit twice scalping this range, but the trade is invalid for now and I will be looking for other opportunities. Good luck!
Note
They wil probably go down to 1.376 and pump up again, and the structure is not something I am looking for so I am out.Trade closed: target reached
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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.