USDCAD failed to break out from the downward trendline.
In this scenario, the green box is the potential entry zone for this short position, and the take profit is around 1.3102, 1.30670 and 1.30250 area accordingly, while the stop loss should be somewhere around the 1.31720 area.
All technical indicator is also pointing to the downside.
Entry at 1.3140
SL at 1.31720
TP 1 at 1.31020
TP 2 at 1.30670
TP 3 at 1.30250
The risk to reward is 1.27 up to 3.83 if TP 3 is hit.
In this scenario, the green box is the potential entry zone for this short position, and the take profit is around 1.3102, 1.30670 and 1.30250 area accordingly, while the stop loss should be somewhere around the 1.31720 area.
All technical indicator is also pointing to the downside.
Entry at 1.3140
SL at 1.31720
TP 1 at 1.31020
TP 2 at 1.30670
TP 3 at 1.30250
The risk to reward is 1.27 up to 3.83 if TP 3 is hit.
Trade closed: stop reached:
Stop Loss was hit DXY bullish reversal causes a breakout to the upside.