Bearish Breakdown Watch: USD/CAD Aiming for Support
USD/CAD SELL SETUP - 1 HOUR CHART
Listen in, traders! Here’s our approach for a sell on USD/CAD:
✅ Entry: 1.35770 level on the 1-hour chart could be our cue to sell.
❌ SL: Set a stop loss above the recent consolidation highs around 1.35909 for a tight risk control.
🎯 TP 1: The first profit target is at the nearest support of 1.35589, where we might see some bounce-back.
🎯 TP 2: If the price continues to drop, our second target is at the next support level of 1.3540.
We're playing off the bearish momentum and looking for continuation past the support. As always, risk management is crucial—don't risk more than a small percentage of your account on any trade. Wait for the breakdown before entry, and let's aim to capture that downside movement.
Listen in, traders! Here’s our approach for a sell on USD/CAD:
✅ Entry: 1.35770 level on the 1-hour chart could be our cue to sell.
❌ SL: Set a stop loss above the recent consolidation highs around 1.35909 for a tight risk control.
🎯 TP 1: The first profit target is at the nearest support of 1.35589, where we might see some bounce-back.
🎯 TP 2: If the price continues to drop, our second target is at the next support level of 1.3540.
We're playing off the bearish momentum and looking for continuation past the support. As always, risk management is crucial—don't risk more than a small percentage of your account on any trade. Wait for the breakdown before entry, and let's aim to capture that downside movement.
Sheena Lynne