USD/CAD Short

Mar 28, 2022

USD/CAD has shown a weakness for weeks and continued the bearish move. The price tried to reverse the trend from the support level of 1.2695 but then faced a big rejection and continued falling before finding support at 1.2612. We see the trend is still going strong and proceeded to break 1.2612 too and did a retest. Once the price continues the move downwards after retest, we'll have our entry.

Mar 28, 2022

Note

The pair did continue the move after retest and our trade got executed. We see in the chart that the 1.2612 zone was respected and the price did a retest to that level multiple times.
This trade took several days but our trade was valid as long as SL was not hit and eventually the price reached our TP of 2R, a fine example of "patience pays in trading".