andrewlickley

USDCAD short- swing trade

Short
FX:USDCAD   U.S. Dollar / Canadian Dollar
I am looking to enter short on USDCAD once we see a break of the 4H uptrend. On weekly we can see price making an impulse move down, followed by a retracement tapping my order block where my ideal entry would have been. However when this TL is broken I will be looking to short and hold for a couple weeks. First target being the previous swing low @1.3020 (175pips), TP 2 the 1.27 fib extension @1.2905 (285pips) and TP3 the 1.618 fib extension @ 1.2760 (430pips).

Last weeks close was a massive bearish doji and DXY looking to weaken, this looks like a tidy trade.
Disclaimer

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.