Hey!
Great opportunity to open short position risk reward 1/5.
But!
Only after one of the levels show it strenght. I do not like the dynamics of price movement. Look fundamental, was some sort of news or a statement from their central bank. For too long the Canadian dollar falls against the US dollar without any rollback. Levels 1.3260 and 1.3285 the price went without difficulty. The target in my idea is not deep below, the high probability of a reversal in my opinion. I recommend at least 1/2 of the positions close where I aim.
Great opportunity to open short position risk reward 1/5.
But!
Only after one of the levels show it strenght. I do not like the dynamics of price movement. Look fundamental, was some sort of news or a statement from their central bank. For too long the Canadian dollar falls against the US dollar without any rollback. Levels 1.3260 and 1.3285 the price went without difficulty. The target in my idea is not deep below, the high probability of a reversal in my opinion. I recommend at least 1/2 of the positions close where I aim.
Trade closed: target reached