EURCAD – Short at top of the range – the week of 20 June, 2022
It is obvious that:
This pair is in a down trend,
Recently, price has been in a range (consolidating) between 1.3750 and 1.3390.
Taking a short at the top of the range would be a high probability trade that is in line with the major trend. This what I intend to do with target just above 1.3390. Even with a generous stop, this has the potential to provide a +3R trade.
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Always use sound money and risk management and stay patient in all your trades.
This pair is in a down trend,
Recently, price has been in a range (consolidating) between 1.3750 and 1.3390.
Taking a short at the top of the range would be a high probability trade that is in line with the major trend. This what I intend to do with target just above 1.3390. Even with a generous stop, this has the potential to provide a +3R trade.
If you like my analysis, please give it a “thumbs up” and follow me to get immediate notifications.
Always use sound money and risk management and stay patient in all your trades.
Trade active:
This trade has not triggered yet, price did not retrace up to 1.3750. My pending order is still active and I will close it the next week if not activated.
Order cancelled:
Price moved just as I expected but unfortunately did not trigger for me. I learnt a long time ago not to chase price.