ShinForex1
Short

USD/CAD High probability short!!!

FX:USDCAD   U.S. Dollar / Canadian Dollar
TOP DOWN ANALYSIS

WEEKLY TIMEFRAME
It has been an exciting time! we have see quite a rally to the upside, creating "higher highs" and "high lows" .But recently we have seen price creating a high low perfectly on the golden fib level 61.8% but lacked momentum to push it more high to the required target level 1.4000. so price drop 3 times to retest the demand level and price seems to range in between 1.33500-- 1.3000.But still our bias is still on the upside on weekly

DAILY TIMEFRAME
if we look at market structure we see market respecting "lower high " at 1.34300 and ''lower low'' at 1.30150 which we can see price retracing at 78.6% to the golden supply level around 1.33500. PAY ATTENTION TO THE PSYCHOLOGICAL LEVEL( SUPPLY LEVEL ) we see a lot of sellers at the level and rejection .this giving us more confidence for a potential short

H4 and H1 TIMEFRAME
all you have to look at is break of structure and how it is formed and how volume is flowing at those key level, wait for a potential rejection or wicks on the psychological level 1.33500 and i highly suggest proper risk management. this is one factor that separates retail trader from institution traders

Target 1-1.32000
Target 2-1.31100
target 3-1.30500

Happy trading and thanks for your support
Thank you for the great explanation
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ShinForex1 rbrnet99
@rbrnet99, my pleasure thanks for following. hope you get something of value.
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