Hi everyone:
My previous pullback long trade on USDCAD has given me 5:1 risk/reward ratio profit, and I exited the trade around 1.2720. Now the price action has pullback to 68.20%, and the bearish continuation can be happening this week. I am looking for some bearish price action to form, a bearish flag, or double tops to confirm the entry. Looking to target 1.2500 or the recent lows. I will be closely monitor the price action at the recent lows, as I believe USDCAD's high time frames are all bearish, and could really push down the price to a lower point of 1.2240 since June 2015.
Thank you for your support and feedback.
JoJo
My previous pullback long trade on USDCAD has given me 5:1 risk/reward ratio profit, and I exited the trade around 1.2720. Now the price action has pullback to 68.20%, and the bearish continuation can be happening this week. I am looking for some bearish price action to form, a bearish flag, or double tops to confirm the entry. Looking to target 1.2500 or the recent lows. I will be closely monitor the price action at the recent lows, as I believe USDCAD's high time frames are all bearish, and could really push down the price to a lower point of 1.2240 since June 2015.
Thank you for your support and feedback.
JoJo
Note
Daily chart:Note
No bearish price action yet, waiting patientlyNote
Potential Entry on USDCAD now. Wait for pullback.Trade active
Note
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Related publications
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.