USDCAD: Tight stop short, low odds but big payout

FX:USDCAD   U.S. Dollar / Canadian Dollar
Interesting patterns in the rgmov line and in the price chart make me think this might be a good short opportunity as the last daily time at mode signal's target has been reached, while USDCAD             posted a top and didn't make a new high with price today.
I'll enter a 0.5% risk short here, the stop is only 53 pips to the next monthly resistance.
It's worth a try, if it works we can scale in on the position.
Good luck!
Trade closed: target reached: Worked well, I booked profits too soon though.
This is not something I'd call trending right now.
Taget 1.22 ?
Even lower if this is a large scale trend reversal like I think.

Watching, for now I'm in with a pending short in gbpcad.
This one will probably work but I'll wait for a clearer entry.
IvanLabrie IvanLabrie
(long cadusd, short usdjpy)
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