USDCAD Low Risk Sell Idea
I spotted a nice trade according to my usual rules. Here are some confluences that influenced the trade:
1. A recent close of a market maker model may indicate that large players might want to start taking profits from their positions, therefore this is a good confluence for a reversal.
2. There was a stop hunt of the previous day's high/low.
3. I really like the fact that the target liquidity is a good distance away, giving the price a lot of room to fly.
4. A market structure shift may signal the beginning of a trend change.
5. There is a fair value gap that accompanies the market structure shift, which shows just how strongly the price wants to reverse.
1. A recent close of a market maker model may indicate that large players might want to start taking profits from their positions, therefore this is a good confluence for a reversal.
2. There was a stop hunt of the previous day's high/low.
3. I really like the fact that the target liquidity is a good distance away, giving the price a lot of room to fly.
4. A market structure shift may signal the beginning of a trend change.
5. There is a fair value gap that accompanies the market structure shift, which shows just how strongly the price wants to reverse.
Trade closed: target reached