glennmercer
Long

USDCAD 1H Short: Reversion to Mean

FX:USDCAD   U.S. Dollar / Canadian Dollar
USDCAD             has been producing bullish moves, creating a possible uptrend on the Daily and 4H TF's. I want to take advantage of a the reversion to mean trade before buying this pair. A conservative TP can be placed at the completion of AB=CD for the correction. An unhit weekly pivot sits below price and is confluent with the 200 daily EMA for a possible T2. SL is placed tightly above recent highs as breaking this level will put me in the bullish camp.
Trade active
Comment: Trade Closed manually: Now bullish on this pair. Bullish engulfing forming on the 1H. Focus now placed on CADJPY short
EN English
EN English (UK)
EN English (IN)
DE Deutsch
FR Français
ES Español
IT Italiano
PL Polski
TR Türkçe
RU Русский