USDCAD: Excellent short opportunity
Analysis
The pair is in a corrective structure and looks like it is breaking below to the downside which would result in a resumption of the downtrend presenting short opportunities with excellent R/R.
Trading Plan
The following assumptions are made:
- Breakout price : 1.2986
- Confirmation price : 1.3012
- Minimum Forecast pips : 500 pips
- Maximum Forecast pips : > 1000 pips
- Duration: 2-10 days to several weeks
- Probability : >95.%
Trade active
Entry: 1.3012
Stop loss: 1.3108
IMPORTANT: The setups posted here are not trade calls or signals and are intended for guidance purpose only and you should use your own strategy to determine entries and exits. They reflect my general view of the market and does not mean you should take the trades without a proper trading plan or strategy, If you would like to get all my setups together with exact entries and exits with please visit www.thepiphunter.com and subscribe.
The pair is in a corrective structure and looks like it is breaking below to the downside which would result in a resumption of the downtrend presenting short opportunities with excellent R/R.
Trading Plan
The following assumptions are made:
- Breakout price : 1.2986
- Confirmation price : 1.3012
- Minimum Forecast pips : 500 pips
- Maximum Forecast pips : > 1000 pips
- Duration: 2-10 days to several weeks
- Probability : >95.%
Trade active
Entry: 1.3012
Stop loss: 1.3108
IMPORTANT: The setups posted here are not trade calls or signals and are intended for guidance purpose only and you should use your own strategy to determine entries and exits. They reflect my general view of the market and does not mean you should take the trades without a proper trading plan or strategy, If you would like to get all my setups together with exact entries and exits with please visit www.thepiphunter.com and subscribe.
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