MrVolcano
Short

USDCAD - Bearish engulfing bar at resistance

FX:USDCAD   U.S. Dollar / Canadian Dollar
112 0 2
This pair has been ranging since May. A Bearish Engulfing bar has formed at the top of the range offering a potential opportunity to the lows.

There's potential that the blue trendline resistance could hold and price may move higher (especially as Oil             prices are going down, which would cause CAD to go down too).
Trade closed manually: Price bounced off of the trendline and retraced higher. Closed out at BE.
Comment: Something I notice now about this trade is that candles following the signal went higher, thus invalidating the signal.
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