MaxLeverage

USDCAD re cloud entry

Short
FX:USDCAD   U.S. Dollar / Canadian Dollar
2
after entering the cloud and dropping from 1.31 to the 50 SMA inside the 4 hour cloud at around 1.28579 USDCAD went on a stop hunt to hit all stops at previous high and it re entered the cloud as expected and forming a double top and a right shoulder. This is why when u get a good entry on a 4 hour cloud you use a wide stop it is a long term trade and lower leverage. Safe take profit is at the bottom of this 4 hour cloud which is around 1.24 and stop loss is above the previous high at 1.3105. However move stop loss to 1.28 after it breaks this cloud would be ideal.

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