#USDCAD looking to sell

Price bearish impulsive move broke Daily bullish market structure to the downside so we believe that our current trend in USDCAD is to the downside.

After forming a low price is testing a broken previous support area which now will act probably as a resistance.

For other bearish confluences we can see price is just below 4H timeframe EMA and close to 1h timeframe EMA.

Transaction en cours:

this position is active since yesterday and we are waiting to see more follow through
of the price towards our take profit area. but we have just moved stop loss to breakeven point...

Transaction en cours:

we have already took one sell position in this pair and now we are waiting for the price to come test the resistance area one more time, we believe if price fail to create new high or fail to close above the previous short term high where we took our last trade there would be possibility of another sell, this time aiming for price to create new low

Trade fermée manuellement:

as you know half of the position closed at 1 to 1 risk to reward and the rest got stop out at break even, but we were looking for another selling position which you can see it in related ideas.