USDCAD INTRA-DAY SHORT
Upon price breaking the previous LL ( highlighted yellow) and support area I took a short position on the ' double tap retest. After seeing the 1H bearish engulfing candle at 8am I entered this trade. Targeting the 1.2500 area which is also the last HL on the daily TF.
Price hit TP following the negative USD News for NFP .
2.28% gained.
Upon price breaking the previous LL ( highlighted yellow) and support area I took a short position on the ' double tap retest. After seeing the 1H bearish engulfing candle at 8am I entered this trade. Targeting the 1.2500 area which is also the last HL on the daily TF.
Price hit TP following the negative USD News for NFP .
2.28% gained.
Comment:
That is my final trade of the week. I will now wait till the end of the day and do my analysis over the weekend. It will be interesting to see the daily and weekly close. 1.2500 is an important area to keep an eye on in my opinion, given the fact that this area is the last HL on the Daily trend as mentioned in my previous posts.