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Usdcadshort

Next Move On USDCAD?Hello traders! Lets talk about USDCAD . Since August 2021 we can clearly see that we have an ascending channel followed by a repetitive behavior till present. Currently the price touched a rejection point at 1.30759 and broke an ascending channel on the 1H chart signaling a reversal of the price. When the price moved lower, it formed a bearish flag and I executed the trade. Currently the price might be forming a bearish flag for more downside continuation. #THEPRIMES
Short
by alex_k_95
USDCAD Short With 2 Confluences. As we can see the price has been moving in a bullish direction for several days. We are starting to see signs of potential market exhaustion which could signal a potential reversal. There has been a change in market structure from bullish to bearish as we can see from the breakout of the key level. The entry for this trade was at the test of the key level and the target is set around the low of June. Risk reward currently stands at 1 to 5.8. Never risk more than 2% of your account on any single trade. Confluences: 1: Double Top Pattern Formation 2: Key Level Breakout
Short
by NDOBObanks