USDCAD - SHORT OPPORUNITY
Week Chart Price has been trading within this channel for quite some time. It wasn't until it broke out and retested that I decided to get in. ON the week chart you can see where price touched the bottom trendline several times and respected it. It could go either way up or down.
Day Chart - My analysis was leaning more towards down, because of the continuous bearish flag patterns that were forming. Unlike in the past. You can see the green highlighted boxes. because I saw the same consolidation pattern along trendline, I was more biased for the breakout and sell.
4 Hour Chart -- First initial push out ward --
1 Hour - Looking for entries Got in at pull back.
ENTRY - 1.31826
STOPLOSS : 1.3217
TP 1 - 1.30739
Day Chart - My analysis was leaning more towards down, because of the continuous bearish flag patterns that were forming. Unlike in the past. You can see the green highlighted boxes. because I saw the same consolidation pattern along trendline, I was more biased for the breakout and sell.
4 Hour Chart -- First initial push out ward --
1 Hour - Looking for entries Got in at pull back.
ENTRY - 1.31826
STOPLOSS : 1.3217
TP 1 - 1.30739