USDCAD: Short setup

FX:USDCAD   U.S. Dollar / Canadian Dollar
1048 10 38
The pair has broken the long term down trend and have retested it and and is bouncing off again providing us with an opportunity to go short.
Comment: The setups posted here are not trade calls and are intended for informative purpose only. I am unable to post everything here due to lack of time, if you would like to get all my setups together with exact entries and exits with please visit http://www.thepiphunter.com and subscribe.
Agree, nice analysis!
Piet.Hein Piet.Hein
simple and effective
piphunters Piet.Hein
Thanks friend!
just show me stop loss - big boss
what is your estimated profit target? 1.2828 where the former consolidation in spring 2015 has its upper sideways channel border? if you take this as a realistic target you could even place the stopp above 1.46 and have some 1:1 risk:reward ratio... is it realistic?

ernstschwarz ernstschwarz
that was nonsense. it is not 1:1 when stopp would be far at 1.46 sorry.

but the mentioned support structure looks good to me....

piphunters ernstschwarz
well I wouldn't take a 1:1, perhaps no harm in placing your stop above the smaller degree corrective top and aim for at least 1:2
ernstschwarz piphunters
yapp. sounds reasonable. . good luck to all who are short now!
+1 Reply
Thanks. Is looking good. stopp above pullback or higher?
piphunters ernstschwarz
not bad, depends on you risk appetite
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