USDCAD - Short position...Potentially a multiday trade.

I'm in short, however, still waiting on several confirmations before I fully invest in this trade. This is a short-term trade that could develop into a long term trade. Much depends on the price action over the next couple of hours and current 4hr and Daily bar completions. Especially if current Daily bar ends up as a strong bearish (bull rejection), price could substantially drop. (See charts below)

The 1H pinbar formation was enough for me to at least enter the trade on a short-term basis & at this time, a small position.

My plan is to let price action determine how I will add to my position. The price action over the next couple of hours will determine the placement of my first TP. SL is set and fairly tight.

Short @ 1.3056; SL @ 1.3085


1M:

1W:

1D:

If current daily bar ends up strong bearish, price could substantially drop.

1H:

Nice pinbar formation

Trade geschlossen: Stop wurde erreicht:

SL reached.