USDCAD 1.37679 + 0.06% SHORT IDEA
Updated
GOOD DAY TRADERS
HERE'S A SHORT IDEA ON THE USDCAD PAIR, IN THE PREVIOUS WEEK WE SAW SOME POSITIVE GLOBAL RISK SENTIMENTS FROM CAD GAINING STRENGTH ON OTHER CURRENCIES THIS PAST WEEK DESPITE A PULL BACK ON FRIDAY CAD ENDED THE WEEK ON A POSITIVE NOTE THANKS TO SOME RECOVERIES ON OIL .
> THE U.S HAD A STEADY STREAM OF WEAK ECONOMIC UPDATES WITH SOME POSITIVE SENTIMENTS ON THE RE-OPENING OF THE ECONOMY AND THE OTHER FACTOR IS STILL CHINA TENSIONS IN THIS COMING WEEK..
LOOKING AT THE CHART WE FINALLY BROKE OUT OF THAT DESCENDING CHANNEL ON THE PAIR LOOKS LIKE WE WENT UP FOR A RETEST AND POSSIBLY CONTINUATION TO THE DOWNSIDE THIS COMING WEEK.
ENTRY - FOLLOW YOUR ENTRY RULES ON PENDING ORDERS/ SELL ORDERS/ MARKET EXECUTIONS
RISK MANAGEMENT
PERIOD - SWING
HERE'S A SHORT IDEA ON THE USDCAD PAIR, IN THE PREVIOUS WEEK WE SAW SOME POSITIVE GLOBAL RISK SENTIMENTS FROM CAD GAINING STRENGTH ON OTHER CURRENCIES THIS PAST WEEK DESPITE A PULL BACK ON FRIDAY CAD ENDED THE WEEK ON A POSITIVE NOTE THANKS TO SOME RECOVERIES ON OIL .
> THE U.S HAD A STEADY STREAM OF WEAK ECONOMIC UPDATES WITH SOME POSITIVE SENTIMENTS ON THE RE-OPENING OF THE ECONOMY AND THE OTHER FACTOR IS STILL CHINA TENSIONS IN THIS COMING WEEK..
LOOKING AT THE CHART WE FINALLY BROKE OUT OF THAT DESCENDING CHANNEL ON THE PAIR LOOKS LIKE WE WENT UP FOR A RETEST AND POSSIBLY CONTINUATION TO THE DOWNSIDE THIS COMING WEEK.
ENTRY - FOLLOW YOUR ENTRY RULES ON PENDING ORDERS/ SELL ORDERS/ MARKET EXECUTIONS
RISK MANAGEMENT
PERIOD - SWING
Note
Trade active
ADJUST SL TO BREAK EVEN AND HOLD RISK FREETrade closed: target reached
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