TraderMozo

USDCAD - Small retrace to retest structure?

Long
FX:USDCAD   U.S. Dollar / Canadian Dollar
PAIR IN FOCUS: USDCAD
ACTION: LONG
HORIZON: SHORT-TERM


Price is currently in a downtrend, however, we could see a small price retrace to retest a structure level before continuing another bearish leg. On a lower time frame, we can see that price has broken and retested a small support. Possible target would be the structure level, with stop loss below this candle.

Let's see how this goes!
Trade closed: stop reached: TP reached in a flash!
Trade closed: target reached

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