FX:USDCAD   U.S. Dollar / Canadian Dollar
USDCAD reached supply zone and go down.
We can see in the previous examples, when we broke the trend line , we continued to move.
I suggest putting a stop above the highs of the previous correction and holding the position to 50% of the fibonacci level.

Profit risk ratio 1:2

Best regards EXCAVO
Feb 24
Trade closed: stop reached: Hit stop loss
Mar 05

Related Ideas


Now we are seeing DXY in the support zone, so this short is now very likely (do we see double top right now?)
This gonna run up up up ..
hmm, CAD is strong lately and the USD index on the roof.... so.. I would bet against, but you are right in most cases.
kasrar sisapis
@sisapis, that's exactly what the analysis is implying, if USD is on the roof, and CAD is strong, the value of USD to CAD will drop, so we're bearish.
@kasrar, yeah, thanks, my logic was inversed.
@kasrar, if the value of USD to CAD will drop ... you are saying that the pair should be sold thus bringing the pair to the downside... Is that a fair assessment?
I am in a short and I hope it keeps going down, but looks like massive gap up at the open? You think this pair will keep heading down still?
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