Shorting USDCAD
1 - Bear flag broken support line
2 - Failed double top at resistance zone
3 - Broken support once
4 - Retracement failed to hit resistance for the 3rd time
5 - Retracement has broken its uptrend line
Therefore, shorting to next support - aiming for 70+ pips
1 - Bear flag broken support line
2 - Failed double top at resistance zone
3 - Broken support once
4 - Retracement failed to hit resistance for the 3rd time
5 - Retracement has broken its uptrend line
Therefore, shorting to next support - aiming for 70+ pips
Trade active:
SL still active. Unfortunately had to ride the Bank of Canada's rate hike statement. Confident the trade will continue it's downtrend once this correction is over
Trade closed: stop reached