USD/CAD.1week chart pattern.It looks like me discussing a trade setup for USD/CAD with:
Sell Entry: 1.36200
Target Point 1: 1.23504
Target Point 2: 2.31000 ← This seems like a mistake
Let’s break it down:
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🔍 Trade Analysis:
Sell at 1.36200: This is a reasonable short entry, near recent resistance (depending on current market context).
Target Point 1 (1.23504): This is plausible, as it's a historically significant support level — a good long-term take-profit zone.
Target Point 2 (2.31000): This appears illogical for a short (sell) position — it's higher than the entry price. If you're shorting, you profit from a decline, not a rise.
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✅ Corrected Setup (Sell Idea):
Sell USD/CAD @ 1.36200
Take Profit 1: 1.30000 (medium-term support)
Take Profit 2: 1.23500 (long-term support)
Stop Loss: 1.37200 (just above recent highs)
Would you like a chart analysis or backtest of this strategy?
