Networth23

USDCAD 2HR SHORT IDEA!

Short
FX:USDCAD   Dollar Américain / Dollar Canadien
Here we have a short-term bullish trend coming to meet a weekly trendline. During its ascent, price formed multiple resistance levels that it eventually broke through. Now I am waiting for signs of rejection when it meets the long term trendline (zoom-out on a higher timeframe to identify it) to see opportunities for Short entries. This may be a bearish engulfing candle close at the large trendline, or a breakout and retest of the short-term rising trendline. I’m also using a tight SL to increase RR (No point using a large SL for this trade as if it reaches that far, the trade becomes invalid anyway.) If price continues to drop, I will remove some of my position at each support/resistance level that it meets during the descent to the daily support at the 1.3045 level.
Clause de non-responsabilité

Les informations et les publications ne sont pas destinées à être, et ne constituent pas, des conseils ou des recommandations en matière de finance, d'investissement, de trading ou d'autres types de conseils fournis ou approuvés par TradingView. Pour en savoir plus, consultez les Conditions d'utilisation.