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glennmercer
Jul 16, 2015 3:16 AM

Quick Short Idea Based on Bearish Doji Pattern Short

U.S. Dollar/Canadian DollarFXCM

Description

Quick short idea based on a simple bearish doji reversal pattern and an overbought UC:

1. Bullish movement
2. Doji (cross), indicating indicision
3. Bearish candle

The new daily pivot provides a nice conservative target, as this pair has been in a vicious uptrend. SL above structure highs.

Note: For counter-trend trades such as this one, a small position size is recommended as momentum is not in your favor.
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