weekendanalyst

USDCAD | Short H4 | Market Exe | Loonie to Ride the Greenback

Short
FX:USDCAD   U.S. Dollar / Canadian Dollar
Technical Confluences for Trade:
- Stochastics are in Overbought Conditions on H1 & H4 time-frame
- Price action is at a Supply Zone area
- Price action may reverse towards the ascending support Trendline
- Targeting the 38.2% Fibo retracement


Suggested Trade:
Entry @ Area of Interest 1.3760 - 1.3800
SL @ 1.3854
TP 1 @ 1.3697 (Close Half-Position & move SL to Entry level once TP1 is achieved)
TP 2 @ 1.3611
Risk-to-Reward @ Approx. 2.12 (Depending on Entry Level)

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Comment:
TP 1 achieved. Take profit on half the position & move the SL to Breakeven Levels.

Enjoy the remaining risk-free trade.

:D
Trade closed: target reached:
TP 2 achieved.

Enjoy the gains! Look forward to the next trade. :D

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