QuileHills
Short

EURCAD SHORT UPDATE

FX:EURCAD   Euro Fx/Canadian Dollar
148 0 11
USDCAD             defended it's bearish sentiment slightly better than EURUSD             defended it's bullish sentiment after the (albeit, low impact) Mortgage Applications released for US this morning came out strong.

This, coinciding with a break of my trend support and and RSI divergence leads me to commit to the short position as shown.

Overall r:r = 2.3

First target will be 61.8% fib, second target trend support (red line).
Trade active
Trade closed: target reached: Stop loss was moved down to 1st target (61.8 fib, 1.4794) and was hit relatively quickly. I believe the set up is still valid if you're in to continue the short down to the red support.
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