Is USDCAD Going For Longs Or Shorts ?
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USDCAD is on a very strong Bearish Trend, But On a 30minutes timeframe we can Spot a new uptrend that is currently forming and we can capitalise on those small scalp trades.
If the price action breaks above 0.65759 our recent higher high and gives a strong confirmation like a bullish engulfing candlestick, that will mean we going for overall Buys with SL-0.65633 and TP-0.66300, that will be a good 1:4 RR.
But If the price action breaks below 0.65371 our recent higher low and gives a strong confirmation like a bearish engulfing candlestick, that will mean USDCAD is not ready for Buys so we going with Sells with SL-0.65517 and TP- 0.64870, that will be a good 1:4 RR
IF NO ENTRY CONFIRMATION IS PRESENTED THEN NO TRADE SHALL BE TAKEN.
If the price action breaks above 0.65759 our recent higher high and gives a strong confirmation like a bullish engulfing candlestick, that will mean we going for overall Buys with SL-0.65633 and TP-0.66300, that will be a good 1:4 RR.
But If the price action breaks below 0.65371 our recent higher low and gives a strong confirmation like a bearish engulfing candlestick, that will mean USDCAD is not ready for Buys so we going with Sells with SL-0.65517 and TP- 0.64870, that will be a good 1:4 RR
IF NO ENTRY CONFIRMATION IS PRESENTED THEN NO TRADE SHALL BE TAKEN.
Note
I made a typo Its AUDUSD not USDCADTransaction en cours
AUDUSD has Broken Below 0.65371 and gave a Bearish engulfing candlestick on the 5min TF, Entry has been triggered, SL and TP has been set for a 1:4 RR.
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