USD/CAD - 4H - Short
Price has continued to move up at the start of this week. I drew a Red dotted line at 1.38056 this is to indicate a potential resistance line but not a strong one. It looks like price is going to test and then move down could be a good entry point going to set some creds for this pair. RSI is at 82 and the EMA is far from price so there is going to be a drop over the next few days.
First time using fib retracement so see how it goes. i have set my SL 100 pips back from my EP and my TP is at a retracement level which is around 200 pips so i'm looking at a 1:2 Risk Reward.
i am just waiting for that confirmation of the move down. not going to set a sell limit on this one i watching for the ep.
First time using fib retracement so see how it goes. i have set my SL 100 pips back from my EP and my TP is at a retracement level which is around 200 pips so i'm looking at a 1:2 Risk Reward.
i am just waiting for that confirmation of the move down. not going to set a sell limit on this one i watching for the ep.
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