$100k Challenge - USDCAD Short - E6 T1
Hey everyone!
And this is the last trade in the queue to publish, for now, all the new trade ideas I post will be as I take the trades :) Enjoy!
Trade Description
The market consistently held a bearish structure since March. Recently it interacted with the bearish trendline, showing strong rejection on the daily timeframe.
Also, a death cross was spotted in June as well as heavy overbought patterns from the stochastic indicator, which also supports the bearish outlook.
TP1 is set to the nearest support area, while TP2 is open with a trailing stop loss. Since the pair shows heavy range patterns on the daily timeframe, it will be considered a full closure when the price gets close to the support area. SL is set to 1 ATR above last high from H4.
And this is the last trade in the queue to publish, for now, all the new trade ideas I post will be as I take the trades :) Enjoy!
Trade Description
The market consistently held a bearish structure since March. Recently it interacted with the bearish trendline, showing strong rejection on the daily timeframe.
Also, a death cross was spotted in June as well as heavy overbought patterns from the stochastic indicator, which also supports the bearish outlook.
TP1 is set to the nearest support area, while TP2 is open with a trailing stop loss. Since the pair shows heavy range patterns on the daily timeframe, it will be considered a full closure when the price gets close to the support area. SL is set to 1 ATR above last high from H4.
