Monk
Short

USDCAD short set up

FX:USDCAD   U.S. Dollar / Canadian Dollar
193 1 0
Looking to short and get to the lower trendline around 1.025 ish             . See how stochastics is rapidly unwinding. I've noticed this is a classic sign of a correction/retracement ready for next leg down. Where to short from though... there are multiple probabilities but will also use overbought on stochastics and reference RSI (maybe 60), to take the short.

The daily chart is becoming oversold on stochastics though so be careful of higher timeframe... may get choppy... and the weekly has all sort of support before 1.025 so will need to get a stop at BE asap             .
nice one Mark
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