CAD was one of the top performing majors last week and I expect it to continue. It's the start of a new month and the top wick of the new monthly candle before the downtrend continues. There is Non Farm Payrolls on Friday at the end of the week, so price action before the news event will influence this trades outcome.
Sell now : 1.3814 cluster resistance
Stop : 1.3893 above major resistance
Profit : 1.3656 before 78.6 Fib and rising trendline
Risk 1 : 2
Sell now : 1.3814 cluster resistance
Stop : 1.3893 above major resistance
Profit : 1.3656 before 78.6 Fib and rising trendline
Risk 1 : 2
Trade active
Price action before NFP and Canada jobs report on Friday will determine if I close this trade early.Trade closed manually
Stopped out at break even.Note
I forgot to update the trade here but moved stop to break even as shown on X before NFP.
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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.