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Jordan_FX

USDCAD Short

Short
U.S. Dollar / Canadian Dollar (FX:USDCAD)  
Jordan_FX Updated   
FX:USDCAD   U.S. Dollar / Canadian Dollar
short USDCAD Bearish Patterns Technical Analysis
2
0
short usdcad bearish technicalanalysis
Patience with this one. Waiting for a trend line break or for the price to enter the zone.

I will then be targeting the 38.2% and 61.8% extensions, closing half positions at each point.

I am interested at the resistance around 1.31056 which hopefully will be broken soon so the price can head higher.

It will be essential to move SL to BE when possible for a risk free trade.

Be aware of upcoming US and CAD news
  • 02/08/16-04/08/16 for US
  • 05/08/16 major CAD news.
Trade active:
Late entry (everyone has to sleep) Usually large SL to compensate for this
Comment:
TP 1 hit, half position closed and SL moved to profit (1.30949).

I will now leave the remaining lot to run until TP 2
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