USDCAD Short - Daily Timeframe
Entry - 1.305
TP - 1.285 - 200 pips
SL - 1.315 - 100 pips
Disclaimer- I will ordinarily avoid trading around or near NFP, but I'm making an exception this time around, which could turn out to be a bad move. I've been in and out of shorts on USDCAD for a while now, but this looks like an opportunity to capitalize on a larger move down.
Fundamentals:
- Oil prices continue to rally with an unsettled US-Iran situation.
- US Hourly earnings and NFP numbers missed projections.
- Canadian unemployment rate and new change in employment beat expectations.
- Central bank interest rates are even at 1.75%.
- Majority of retail traders on Myfxbook (86%) are long.
Technicals:
- Price broke out and retested a long-term ascending trendline.
- Price on the daily timeframe is below the Ichimoku Cloud, 200 MA (blue line), and 30 EMA (green line).
- Made LL last week.
We'll see how it goes. It's possible I'll have missed an opportunity to enter at a more favorable price. Didn't open a huge position- risking 2% if SL is hit.
Thanks for looking,
-Zedro
Entry - 1.305
TP - 1.285 - 200 pips
SL - 1.315 - 100 pips
Disclaimer- I will ordinarily avoid trading around or near NFP, but I'm making an exception this time around, which could turn out to be a bad move. I've been in and out of shorts on USDCAD for a while now, but this looks like an opportunity to capitalize on a larger move down.
Fundamentals:
- Oil prices continue to rally with an unsettled US-Iran situation.
- US Hourly earnings and NFP numbers missed projections.
- Canadian unemployment rate and new change in employment beat expectations.
- Central bank interest rates are even at 1.75%.
- Majority of retail traders on Myfxbook (86%) are long.
Technicals:
- Price broke out and retested a long-term ascending trendline.
- Price on the daily timeframe is below the Ichimoku Cloud, 200 MA (blue line), and 30 EMA (green line).
- Made LL last week.
We'll see how it goes. It's possible I'll have missed an opportunity to enter at a more favorable price. Didn't open a huge position- risking 2% if SL is hit.
Thanks for looking,
-Zedro
Dagangan aktif
Trade active.Dagangan ditutup: hentian tercapai
Did notwork out. Interest rate decision pushed this to my stop.
Penafian
Maklumat dan penerbitan adalah tidak bertujuan, dan tidak membentuk, nasihat atau cadangan kewangan, pelaburan, dagangan atau jenis lain yang diberikan atau disahkan oleh TradingView. Baca lebih dalam Terma Penggunaan.
Penafian
Maklumat dan penerbitan adalah tidak bertujuan, dan tidak membentuk, nasihat atau cadangan kewangan, pelaburan, dagangan atau jenis lain yang diberikan atau disahkan oleh TradingView. Baca lebih dalam Terma Penggunaan.