WaveAnalysis
Short

USDCAD Short Trade Setup

OANDA:USDCAD   U.S. Dollar / Canadian Dollar
Hello traders.

There is some potantial for down side, that's why I like to take short trade after break out (aqua) with stoploss at 1.29000. Probably it will bounce from the trend line and go up one more time in the channel and that up move will breake daily top. So, it will complete a regular flat structure. But just in case it can fall from here. I don't want to miss it, because down move potantial is huge. This is what I'm expecting in higher degree:
Order cancelled
Comment: After another up move we still have divergence beween up impulses in all time frames and we have regular flat in 1D chat. I'm still looking for short trades. I put an entry order and now trade is active. You can wait for break out. This is a trade with high risk. I put at risk only 0.25% percent of my account. Because of very close stoploss I could take very nice size trade.
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