UltraFX
Short

USD/CAD - Weekend Analysis

OANDA:USDCAD   U.S. Dollar / Canadian Dollar
Hello all,

Have my weekend analysis for USD/CAD , I have taken this trade and am currently holding it over the weekend.

My reasoning for the short is that the price has broken out of a flag which is in the middle of a higher timeframe descending channel . We may see a retest on this lower trendline of the flag and then a continuation back to the downside.
We will be targeting the lower trendline with my personal stop loss just above the upper trendline of the flag.

Hope you liked my analysis and I would appreciate some feedback and what your thinking.

Thanks,
Freddie (UltraFX)

(UltraFX) am not providing any signals or any financial information, I am merely providing my thoughts. Any user using this information uses it at their own risk.


Comment: Trade is running around 40 pips profit, might be a nice time to book some profit and move SL to either entry or + 10-25 pips.
Comment: Trade is over 80 pips in profit! Can close it now for a nice profit

Comments

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