TRADE OF THE WEEK | Counter-Trend Trading 💰

٢٤ ديسمبر ٢٠٢١

Hey traders,

Here is a great short trading opportunity that I spotted on USDCAD this week.

Bulls were pushing the market nicely and the price reached a key monthly structure resistance this week.

I was expecting a pullback from that structure and was looking for a confirmation on lower time frames to short.

On 4H time frame, the price reached an intraday rising trend line and on that, a double top formation was formed.
The trigger was a bearish violation of its horizontal neckline and a consequent retest.

Then the pair dropped nicely.

120 pips of pure profit.

Did you catch this move?

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