🔥 A fast-paced short trade is now active on the USDCAD 15-minute chart!
We're seeing a classic "break and retest" setup. After breaking the short-term ascending trendline, the price has pulled back perfectly to the broken structure, which is now acting as resistance. The price is currently inside our entry zone, signaling a potential move down.
This trade is now considered active.
Trade Parameters (Active):
🛡️ Pro tips for this trade:
⚠️ **Key Driver:** Keep a very close eye on Crude Oil (WTI) prices! A rising oil price strengthens the Canadian Dollar and is the perfect fuel for this short setup. A falling oil price would work against this trade.
🧠 This is a scalping setup with a very tight stop loss. Managing the trade actively is crucial.
Let's see if we can get a quick win here! Hit Boost🚀👍 if you're in this trade.
We're seeing a classic "break and retest" setup. After breaking the short-term ascending trendline, the price has pulled back perfectly to the broken structure, which is now acting as resistance. The price is currently inside our entry zone, signaling a potential move down.
This trade is now considered active.
Trade Parameters (Active):
- 🔽 Direction: Short / Sell
- 🎯 Entry Zone: ~1.38553 - 1.38600
- ✅ Take Profit 1: ~1.38500
- ✅ Take Profit 2: ~1.38400
- 🚫 Stop Loss (SL): 1.38634
- 📊 Potential Risk/Reward Ratio (to TP2): ~2.9
🛡️ Pro tips for this trade:
⚠️ **Key Driver:** Keep a very close eye on Crude Oil (WTI) prices! A rising oil price strengthens the Canadian Dollar and is the perfect fuel for this short setup. A falling oil price would work against this trade.
🧠 This is a scalping setup with a very tight stop loss. Managing the trade actively is crucial.
Let's see if we can get a quick win here! Hit Boost🚀👍 if you're in this trade.
Trade closed: target reached
TP1 touchedNote
USDCAD M15 Short Trade
Trendline Retest Setup
Full Target Achieved 🎯💰
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.