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vitowodenik

Ping pong USDCAD is on the edge of the table

Short
U.S. Dollar / Canadian Dollar (OANDA:USDCAD)  
vitowodenik Updated   
OANDA:USDCAD   U.S. Dollar / Canadian Dollar
Trend Analysis
1
0
trendanalysis
We've been in this huge range for over than a year now, playing table tennis from one side of the range to the other. I'm placing my bet that the game will continue and that sellers will bounce back the price to the buyers somewhere lower in the range. I'm looking at the last three trading days (from 6th - 8th November) as a retracement to the zone after the BOS on the LTF. My LTF entry zone is a psychological level of 1,38000 where there was first a support that was broken on 2nd November and now serves as an entry point where I got a rejection I wanted on the H1 (BNR pattern). Risk is limited to the break of the daily significant resistance above and the profit target is one zone below.
Comment:
Added a first scale-in at 1.37596 with a tight SL at 1.37948. Going for 4R with this trade.
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