Stop at 1.3505. USDCAD has dipped below its weekly slope and also crossed the 9 day ksen. This is a strong bearing signal leading to a reversal of the 9 day trend line. At the first stage we should see the 9 day Donchian Low hit at 1.3380 for a partial TP of 50 pips.
Comment:
Stop level of 1.3505 is currently set at the 9 day Donchian Channel High.
Comment:
Lowered Stop to 1.3472 (the highest of Span A & Span B on the 6 day Cloud. Scaled into a total of 8 trades on the recent 3 hour retraces.
Trade closed: target reached