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USDCAD Analysis Future Short?
Hi Traders,
This is my first post so bear with me :)! In this pair on the daily chart I noticed a descending channel and using a pitchfork I found the ideal entry point for a short to gain significant pips.
This trade also maximizes your risk/reward potential with 1:3.63 ratio. If market opens and hits the entry point I will be taking a sell with other confirmations required. Such as clear signal on BBPT, as well as confirmation from the McGinley Dynamic. Happy Trading and using a trailing stop to secure profits is a good idea on multi day trade. I use half the ATR (for the most part)! But always go with what you see!
This is my first post so bear with me :)! In this pair on the daily chart I noticed a descending channel and using a pitchfork I found the ideal entry point for a short to gain significant pips.
This trade also maximizes your risk/reward potential with 1:3.63 ratio. If market opens and hits the entry point I will be taking a sell with other confirmations required. Such as clear signal on BBPT, as well as confirmation from the McGinley Dynamic. Happy Trading and using a trailing stop to secure profits is a good idea on multi day trade. I use half the ATR (for the most part)! But always go with what you see!
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