utilising the market trend as a general map of how price action is behaving, USD/CAD has been trading aggressively bearish. Despite price attempting to reverse, we see a strong confluence around current price region acting as a resistance for candlestick rejections as well as a key fib level.
risk/reward ratio 1:2
risk/reward ratio 1:2
Trade closed manually:
NFP ahead which could cause a lot of manipulative price action, securing +50 pips on this trade.