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glennmercer
Dec 30, 2016 12:00 PM

USDCAD Short: Waiting for the Drop Short

U.S. Dollar/Canadian DollarFXCM

Description

Hey traders! Waiting for this trendline to break and close. I think below the S/R zone is a strong indication of further downside The MA's may also add resistance between entry and stop. I only want to sell this from the 1.345 level. Otherwise, I will cancel the entry and wait it out. Cheers!

Trade active

Beautiful drop, trade is active

Trade closed manually

Breakeven level activated and stopped at +0 Pips

Trade active

Potential continued breakout to the downside. Entered again on a sell stop on the 15m timeframe, looking at levels on chart:

Trade closed manually

Exiting this trade at -34 Pips. Bias is still short, however. I will be looking for better R/R opportunities to re-enter, if at all. Cheers!
Comments
ForexLoveme
Thank you .
glennmercer
@ForexLoveme, My pleasure, cheers!
sanjayplayer
Missing your EW counts on chart.
glennmercer
@sanjayplayer, I'll be doing more EW analysis in the future, thanks for the support
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