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TheTradingDistrict

USD/CAD H4 - Potential Short

Short
U.S. Dollar / Canadian Dollar (FOREXCOM:USDCAD)  
TheTradingDistrict Updated   
FOREXCOM:USDCAD   U.S. Dollar / Canadian Dollar
Trend Analysis Moving Averages USDCAD usdcadshort short USD CAD breakout thetradingdistrict
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trendanalysis movingaverage usdcad usdcadshort short usd cad breakout thetradingdistrict
USD/CAD has been ranging since mid September and we're anticipating a break to the downside. If price could break below ~1.3230 and maintain, we can look for sell positions. In addition, price has fallen below 200EMA on Daily and H4.

Let's wait for confirmation to find a sell entry if price breaks and holds below.

TP 1: 1.3180
TP 2: 1.3140
Comment:
Price is approaching our entry zone. Waiting for confirmation on lower time frames to find a good entry for a sell.
Order cancelled:
Price seems to be pulling away from our sell zone. Until it gets back in the area with a break and hold below 1.32150, then we could look for our sells. But for now, we'll close this trade idea.
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