USDCAD D1: SHORT IT 450 pips / breakdown / failure(SL/TP)(NEW)

Jul 21, 2020

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USDCAD D1: SHORT IT 450 pips / breakdown / failure(SL/TP)(NEW)
IMPORTANT NOTE: speculative setup. do your own
due dill. use STOP LOSS. don't overleverage.
Tagged as SHORT because I expect more downside
short-term and mid-term as well.

🔸 Summary and potential trade setup
::: USDCAD daily chart review
::: massive breakdown / failure
::: expecting 300-500 pips losses
::: 3180 - 3040 realistic target bears
::: upside very limited from here
::: Recommended strategy: SHORT IT at market
::: SL 80 pips TP1 +300 pips TP2 +450 pips
::: can I wait for the bounce? well, may not happen
::: chart looks very weak / heavy, so straight dump
::: good luck traders
🔸 Supply/Demand Zones
::: N/A
::: N/A
🔸 Other noteworthy technicals/fundies
::: TD9/Combo update: N/A
::: Sentiment short-term: BEARS
::: Sentiment outlook mid-term: BEARS