Hi guys,
today i want to share with you a simple setup we have on USDCAD. The overall trend is bearish, and price is now testing the 382 retracement of the bigger impulsive leg. After the first failed attempt it has came up at the same level creating a nice double top. If the current candle will close red, then i will be shorting this pair, with first target at the retest of the neckline, and the second target at the bottom (around 1,33).
Let's wait and see.
If you want to share your viewpoint or ask questions, feel free to comment below.
Otherwise, see you in the next chart!
today i want to share with you a simple setup we have on USDCAD. The overall trend is bearish, and price is now testing the 382 retracement of the bigger impulsive leg. After the first failed attempt it has came up at the same level creating a nice double top. If the current candle will close red, then i will be shorting this pair, with first target at the retest of the neckline, and the second target at the bottom (around 1,33).
Let's wait and see.
If you want to share your viewpoint or ask questions, feel free to comment below.
Otherwise, see you in the next chart!
Trade active
Trade closed: target reached:
First target hit!
Comment:
Stop moved to breakeven.
Trade closed: target reached:
Second target hit!