This is the followup to my previous USDCAD chart, where I boldly called the top.
It would seem that I was right before and now we have an interesting setup here, with a clear mode, a very low volatility topping formation in price and new lows in rgmov ahead of price.
We can place a pending short entry under the weekly pivot and update it on a daily basis (it's what I'll do until the short signal gets triggered), using range expansion as the trigger, or wait for one bar to close under the mode without touching it for one session and selling on close, with the stop above the mode.
Good luck if you short this pair here. Managing the position will be half the battle here, check out my zulutrade signal in my profile. I'll be taking the trades I publish here.
Cheers,
Ivan.
It would seem that I was right before and now we have an interesting setup here, with a clear mode, a very low volatility topping formation in price and new lows in rgmov ahead of price.
We can place a pending short entry under the weekly pivot and update it on a daily basis (it's what I'll do until the short signal gets triggered), using range expansion as the trigger, or wait for one bar to close under the mode without touching it for one session and selling on close, with the stop above the mode.
Good luck if you short this pair here. Managing the position will be half the battle here, check out my zulutrade signal in my profile. I'll be taking the trades I publish here.
Cheers,
Ivan.
Trade closed: target reached
