USD/CAD shorts down to 1.3000

This pair did not present any intra-day longs so its back to the long term short bias. A lower time frame head and shoulders formed giving short opportunities. Prices are now back below key support and approaching an area of interest. If you are not in on this, shorts can be entered on a retest of 1.3280, a break/retest of the area of interest or a break/retest of the trendline (see previous posts for a clearer view). Dollar index is back below 100.00 and isnt much support before 97.00 so this trade should play out smoothly.

Transaction en cours:

Position entered at 1.32657, Stop loss at 1.32967 (30 pips), Take profit at 1.30257 (240 pips). Risk/reward = 1:8

Trade fermée: ordre d’arrêt atteint

Transaction en cours:

Re-entered at 1.32252, stop 1.33069 (82 pips) take profit at 1.28750 (350 pips) for 1:4 risk/reward