USDCAD Short Term Sell Setup At Key Level

Although our main view is bullish we have a nice sell opportunity on USDCAD. Price is testing both the upper parallel of a down slope median line and the lower quartile of a longer term pitchfork. We may sell at that level and aim for the lower parallel of the up slope fork.

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Comment:

Price has closed above resistance. We should close this trade with a small loss.

Comment:

That's a great example why is crucial to cut early your loss when you believe your setup is going the way you planned it..

Here i was expecting a bounce from my entry point but i saw price correcting preparing for a new wave up. I closed my position for a small loss and i now see price have reached my initial stoploss.

There is nothing selfish in trading. Taking small losses is just fine! More beautiful setups are coming!