ThinkingAntsOk

Short Setup + Full Analysis on USDCAD by ThinkingAntsOk

Short
FX:USDCAD   U.S. Dollar / Canadian Dollar
Use this as a guide to develop your own setup

Main Items we see on the 4hs chart:

a)Price Broke out the Ascending Trendline
b)After the breakout, we saw a pullback to the Trendline with clear rejection candlesticks
c)Currently, we can see a decreasing momentum on the bullish movement
d)Based on that and the Bearish Signals we can see on Higher Timeframes we will look for a short setup on this Forex Pair
e)Our Entry will be below the last Bearish Fakeout
f)Our stop will be above the whole rejection level, (high-quality zone for stops)
g)Out Target will be on the next support zone , we have a really good Risk Reward Ratio of 1:2
h)We will cancel this setup IF the price goes above the stop level with close candlesticks
i)Remember: NEVER RISK MORE THAN 2% OF YOUR TRADE ACCOUNT

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