This pair is bearish on both the Monthly and Daily time frames.
price is currently compressing below the Daily Senkou A (bottom of the Cloud)
this is a very strong resistance level and great place for a small stop loss entry with
a profit target of .7066 which is the Daily 1.27 fib extension.
first we need the pair to compress slightly below the Senkou A for at least 2 more hours
(starting at 1am est. ,we will look for a quick pop back up the Senkou A level for entry)
Entry = .7491
Stop = .7511
Risk = 20 pips
Profit target = .7066
Reward = 425 pips
RRR = 21 - 1 :)
price is currently compressing below the Daily Senkou A (bottom of the Cloud)
this is a very strong resistance level and great place for a small stop loss entry with
a profit target of .7066 which is the Daily 1.27 fib extension.
first we need the pair to compress slightly below the Senkou A for at least 2 more hours
(starting at 1am est. ,we will look for a quick pop back up the Senkou A level for entry)
Entry = .7491
Stop = .7511
Risk = 20 pips
Profit target = .7066
Reward = 425 pips
RRR = 21 - 1 :)
Trade active
This trade is now Active :)Trade closed: stop reached
Unfortunately the Cad news got us on this one.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.