USDCAD - Short

11 Agu 2015

USDCAD

Have been very bullish, but now looking to take other side of trade, at least for short-term. Noticed possible signs of a correction on 1D chart. Even if USDCAD breaks 1.32139 resistance, I would still be cautious with buys and have tight SL.

I entered a small short position, but in hindsight it was probably too early. My current short trade is @ 1.30918 w/ SL at 1.31610.
I am placing a limited short order @ 1.3180 w/ SL at 1.3255 with expected TP at 1.3019.

IF 1.32139 resistance holds, I would look to add to position if price action looks ideal.

Comments appreciated. Let me know if you agree or disagree