tradafx

Wait for a selling opportunity on a retracement with USDCAD

Short
OANDA:USDCAD   U.S. Dollar / Canadian Dollar
H4 time frame.
Structure: The bullish structure was broken when the price broke Key level 1.24500.
The downtrend was confirmed earlier.
Wait for the price to return to the confluence between the downtrend line and the resistance level of 1.25500 - 1.26000 and a bearish reversal pattern appears, then you can find selling opportunities.
The profit target is the zone of 1.20000.
-----------------------------------------------------------------------------------------------
Wish you all have a good trading day!

Disclaimer

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.