USDCAD SHORT SETUP

USDCAD SHORT SETUP:

COT DATA:
2021-03-16 (L) 40,644 (S) 50,907 (TOT CON) 91,551 (%L) 44% (%S) 56% (NET CON) -10,263

SENTIMENT: USD WEAKNESS / CAD STRENGTH

AREAS OF INTEREST:
1.2625 - 1.2700 SUPPLY ZONE
1.2550 - 1.2600 SUPPLY ZONE
1.23 - 1.2375 DEMAND ZONE

TRADE STATEMENTS:
IF MKT INDICATES WEAKNESS IN 1.2550 - 1.2600; THEN SELL MKT
IF 1.2625 IS TRADED; THEN SELL 1.2625

TRADE MANAGEMENT:
PORTFOLIO RISK PARAMETER (1% - 3%)
SET SL/TP/BE PARAMETERS ACCORDINGLY
LET TRADE DEVELOP

IDEA ALERT:
BE AWARE OF PRICE ACTION AGAINST TRADE IDEA
MKT COULD TURN HIGHER FROM CURRENT LEVELS
MKT COULD TURN LOWER FROM CURRENT LEVELS