Kevin_CLEO
Short

USDCAD H4 SHORT EXPECTANCY

FX:USDCAD   U.S. Dollar / Canadian Dollar
Price action patterns often don't create perfect double tops or double bottoms. Usually the spike of second High reach to top of body of previous high.
In this case Previous high is in first yellow circle from 5th April 2016. Right now the spike on H4 reached the top of body of the candle from previous high. It also is around big round number (1.32000) and on Daily chart there is visible slowdown in growth. First Profit target is set on double the Stop loss distance, which is also where the previous low after the first contact was.
update: I took 2/3 of the position at 70% TP distance (1,3055). The rest of my position (1/3) I hold, but I moved my SL to BE.
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