USD/CAD INTRADAY SHORT TRADE 1:6 RR POTENTIAL

١٨ يناير ٢٠٢٠

Confluence on this Trade

Monthly Time Frame:
- Trend: Bearish
- Support 1.31593 Breakout
- current price: 1.29572 - 1.30646
- Potentially pullback to support 1.31593

Weekly Time Frame:
- Engulfing candlestick formed: 1.31041 - 1.29565
- as engulfing candlestick formed, theres a chance for retracement at this timeframe

*SHORT TRADE EXPLANATION*

Daily Time Frame
- uptrend breakout (Sell signal)
- Support 1.30510 breakout (sell signal)
- Bearish engulfing candlestick formed: 1.30773 - 1.30346
(SHORT SIGNAL IDENTIFIED)

*ENTRY POINT EXPLANATION*

H4 Time Frame
- Downtrend 3rd retest potential
- Counter trend pullback potential
- Support breakout 1.30566
- SELL ZONE: 1.30566 - 1.30755

This is what occur in my head after looking at USD / CAD chart, whats in your thought? can you share me?? hehe :D Thankyou guys, keep it simple !!