USDCAD - Short opportunity if price holds below resistance area
Fundamentally speaking, there is a chance that USD could be dropping lower if this month's CPI prints a lower number than the previous month's number. Furthermore, combined with CAD fundamentals that starting to align with Oil price fluctuation provide a quite stable CAD outlook.
In terms of technical perspective, a big rejection candle that is present on top of the marking area provides a signal that a continuation to the downside is quite possible.
In conclusion, as long as the price did not move higher and close higher than the high of the rejection candle, a short position is preferable.
"Trading is NOT about how often you are right!! Trading is a mathematical calculation of the ratio of the results you WILL get to the risk you MAY spend!!!"
In terms of technical perspective, a big rejection candle that is present on top of the marking area provides a signal that a continuation to the downside is quite possible.
In conclusion, as long as the price did not move higher and close higher than the high of the rejection candle, a short position is preferable.
"Trading is NOT about how often you are right!! Trading is a mathematical calculation of the ratio of the results you WILL get to the risk you MAY spend!!!"
Anmerkung
USDCAD - 1st target reached.
Feel free to book your profit or trail the position accordingly to aim for 2nd target
Adityan Mulia, M.T
TradingView Indonesia
Email:
madityan@tradingview.com
Telegram channel
t.me/tradingviewindonesia
TradingView Indonesia
Email:
madityan@tradingview.com
Telegram channel
t.me/tradingviewindonesia
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Die Informationen und Veröffentlichungen sind nicht als Finanz-, Anlage-, Handels- oder andere Arten von Ratschlägen oder Empfehlungen gedacht, die von TradingView bereitgestellt oder gebilligt werden, und stellen diese nicht dar. Lesen Sie mehr in den Nutzungsbedingungen.
Adityan Mulia, M.T
TradingView Indonesia
Email:
madityan@tradingview.com
Telegram channel
t.me/tradingviewindonesia
TradingView Indonesia
Email:
madityan@tradingview.com
Telegram channel
t.me/tradingviewindonesia
Haftungsausschluss
Die Informationen und Veröffentlichungen sind nicht als Finanz-, Anlage-, Handels- oder andere Arten von Ratschlägen oder Empfehlungen gedacht, die von TradingView bereitgestellt oder gebilligt werden, und stellen diese nicht dar. Lesen Sie mehr in den Nutzungsbedingungen.