USDCAD Analysis Price is currently above the Daily ED channel. However, I have spotted a bearish butterfly, waiting for price to close in the PRZ. I will be monitoring RSI and H4 TF for entry. RSI is at overbought level on H4 TF now, awaiting bearish divergence.
Note : This is a counter trend trade, so monitor your trade closely, I might not choose to wait till TP1 if I were to enter.
Trade active
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Shorted at 1.338, aiming for mini profits.
Comment
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Conservative SL @ 1.34 and TP @ 1.335.
Trade closed: stop reached
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Almost hit 30 pips TP a while ago but retraced and hit 20 pips SL instead. USDCAD is rather volatile now, I shall move on to other pairs.
nice! took reference from USOIL, seems to be slowly picking up now as well.
lyl89
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Price retraced too quickly when it reached PRZ, I did not enter due to a higher risk to reward.
Seems to be retesting PRZ again, might be able to short, wil be monitoring RSI.