Looking bearish on USDCAD medium term. Looking for a move down to 1.395 before retracing up to either the golden zone (61.8-78.6) or the last buy to sell candle, before a move down to swipe liquidity at 1.38, potentially even further to 1.365.
Looking at a risk to reward of 1:10+ - Risk to Reward is an essential part of trading and is something I recommend every trader to really determine before making a single trade.
I personally risk 1.5% per trade, I also have a rule that if I lose 3 trades in a row I take a day off. REVENGE trading is a very dangerous game.