piphunters
Short

USDCAD: Excellent short opportunity

FX:USDCAD   U.S. Dollar/Canadian Dollar
1226 5 52
Analysis

The pair is in a corrective structure and looks like it is breaking below to the downside which would result in a resumption of the downtrend presenting short opportunities with excellent R/R.


Trading Plan

The following assumptions are made:

- Breakout price : 1.2986
- Confirmation price : 1.3012
- Minimum Forecast pips : 500 pips
- Maximum Forecast pips : > 1000 pips
- Duration: 2-10 days to several weeks
- Probability : >95.%

Trade active

Entry: 1.3012
Stop loss: 1.3108


IMPORTANT: The setups posted here are not trade calls or signals and are intended for guidance purpose only and you should use your own strategy to determine entries and exits. They reflect my general view of the market and does not mean you should take the trades without a proper trading plan or strategy, If you would like to get all my setups together with exact entries and exits with please visit http://www.thepiphunter.com and subscribe.
Comment:
USDCAD: Downside resumption more likely
Great! Short this pair with you! Thanks for your sharing!
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I think wave 4 is.at.the end and.wave.5 up starts here...
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Hi , any update on this pair ?
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Nice move. Are you on trade?
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Still on the trade. Hoping it will drop down to 1.27500
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