informedtrades
Short

Shorting EURCAD as the Pair Pulls Back to Resistance

FX:EURCAD   Euro / Canadian Dollar
85 1 1
EURCAD             has been in a clear downtrend, but has pulled back over the past week or so. We're starting to see signs of CAD strength return across the board, though, and EURCAD             has a setup I thought was particularly favorable. I'm short at 4273, with my stop at 4333, and my target profit at 4003. This gives me a reward/risk greater than 4:1, which always piques my interest.

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at the time of posting the chart the price was already down about 70 pips, so are you waiting for price to retest 4273 or were you already short?
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