USDCAD Short setup

FX:USDCAD   U.S. Dollar / Canadian Dollar
There's confluence of support and resistance in this price area.
1) Major support/Resistance area, blue horizontal line, price has been found historically to reverse.
2) Long term trend Resistance
3) Short term trend support

If we see a break of (3), and (2) holds its resistance, (1) should help sellers to take control and set in motion the reversal.

Good trading this week all!

Trade active
Trade closed manually: I closed it, i noticed there's a FED outlook news in about half an hour.
Comment: Don't know what kind of volatility to expect, that's why I closed this early
Comment: Re-entered my trade order
Trade active
Trade closed: stop reached

Related Ideas

excellent call, in this trade as well. Lucky that the fed news still gave time for an entry
Cenotaph epsion22
Yes exactly, I managed to re-enter after the news just fine. Thanks :)
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