Nico.Muselle
Short

USDCAD - a shift in trend ?

FX:USDCAD   U.S. Dollar/Canadian Dollar
2596 29 77
This pair has been very bullish for over a year now if you look at the daily chart . What I am looking for here is a small relief from the recent uptrend, supported by the OIL             price rising again. As you all probably know, the CAD is heavily influenced by the price of OIL             .

On the 4h chart, I am looking for a little rally into previous structure from where we could re-test the most recent lows again. This offers a nice R:R ratio of 2:1. Possible extended target could be around 1.34 area.

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Constructive comments are always welcome !
Trade active: We had to wait for it for a while, but now this trade is active
Comment: Target hit : I took off 50% of the position, moved the stop loss well in profit and will let this trade run with a target of 1.3405
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Excellent Trade! Big props man.
+1 Reply
Thanks a lot for your support, this indeed was an great and painless trading opportunity. )
Reply
Nice, looking at the same area over here
+1 Reply
Excellent ... it was a long wait before we reached this level .. What target are you aiming for ?
Reply
Akil_Stokes PRO Nico.Muselle
I'd be looking for a retest of previous support followed by an extension to 1.34's
+1 Reply
Glad to see we're on the same page ! Eyeballing same targets here :)
Reply
Can we see 1.34 area ???
+1 Reply
Nico.Muselle MOD pathaniasourabh
Initially I am aiming for a re-test of the previous lows ... If that level breaks the next support level is around 1.33
Reply
This has already started to go down. Have you already made your move?
+1 Reply
Patience rewarded, my entry got filled today ... let's see now where it will take us :)
Reply
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