nick2497

Potential Short on UCAD (daily) , provided bearish confirmation.

Short
FX:USDCAD   U.S. Dollar / Canadian Dollar
Simple one legged move, bounce off 36 ema downwards.
Problem: Big area of demand/support awaiting which we have bounced off of multiple times, and we are shorting on a pullback near that zone.
If candlestick on monday is a healthy bearish stick, breaking and closing below 12ema, we can look for shorts, securing most profits at the previous demand/ support area which we havent broken yet. If we break support too, trail the rest of the profits.

Recommended: HALF risk because price is constricted and showing a little stagnation (no more than 0.5% of account).

Simple price action: Indicators: EMA's (dynamic support/res for pullback trend trading AND Heiken Ashi for comforts of scalping.
Comment: TP1: 1.2650
TP2: TRAIL with suitable trailing indicators/trailing behind EMA (take 80%+ profits out at TP1).
SL: 1.2853 (Optional level).
Comment: JUST AN OBSERVATION, NOT AN INVESTMENT OPPORTUNITY! RISK AT YOUR OWN DISCRETION!
Trade closed: target reached: Hit TP 1.2643. Can leave 10% of your trade position to run down on break even if we break through support to target the next lows on daily/weekly chart.

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