Trade Setup on USD/CAD
Technical confluences: Fibonacci retracement level, demand zone break retest, bearish harami
Fundamental confluences: US-Iran tensions increasing crude oil prices, USD/CAD negatively correlated with crude oil.
Possible Outcomes of this trade:
Short till 1.3000 and retest - TP1, after which we need to update this setup.
TP2 is at 1.2950 and TP3 is not defined yet
Stop loss: 1.3130
Entry price optimal: 1.30400
Fundamental confluences: US-Iran tensions increasing crude oil prices, USD/CAD negatively correlated with crude oil.
Possible Outcomes of this trade:
Short till 1.3000 and retest - TP1, after which we need to update this setup.
TP2 is at 1.2950 and TP3 is not defined yet
Stop loss: 1.3130
Entry price optimal: 1.30400
Trade closed: stop reached
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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.