EURCAD Short Trade Setup

14 Apr 2021

I want to take a long trade because my forecast is an upward impulse for about 1000 pips. But before that, it looks like we will have one more drop for a complete correction. That's why I'll take a short trade to hedge it. I'm waiting for a reversal structure to place a pending order. When the red line is broken, I'll move SL to BE. Because the correction can become a running flat (yellow arrows).