USD/CAD Short

14 Apr 2017

Posted a long before, but analyzed the pair way too quickly. Price halted near the Monthly Res/Supp multiple times and higher time frame structure indicates a break to the downside. Varies confluences are presented, yet the SL is set a little further away just in case. The dollar is "supposedly weakeaning" but I won't be convinced for sure until I see a full break of the most recent "LL" (Even though "LH's" are present, it doesn't necessarily mean a pair is going to drop). If that is the case, then this trade should play out favorably. I find it's best to monitor the trade on 4H chart and specifically the 2H chart to get out earlier with profit instead of breaking even if signs of a reversal are present.