USD-CAD Found Resistance at Current high of the Retracement

Here is another lower risk, higher return trade that has completed on the USD-CAD cross. We know the DXY pair is in a down trend. This means we should only be looking to sell the USD-CAD as long as the DXY remains bearish. Never trade against the trend, unless you know what you are doing. Otherwise trade with the trend until you are professional enough a trader to trade against the trend. It takes years of losing as many of your shirts before you can become a seasoned professional trader who constantly milks money out of these money. For now, the trend is your friend until it bends. The chart show that our three values have been given. STOP is at the higher of the U turn which is 1.2977, TARGET is @ 1.2836 and entry @ 1.2946, giving us a low risk, 31 pips and higher return, 110 pips trade. Note that trades like these take a number of days to complete. Avoid the temptation of fiddling with your trades. Simply wait for price to do what it has to do. It knows where its Fib target is and thank God you know it too. But price will play all sorts of games, sometimes scary, before it hits its Fib target. Simply WAIT, hold your breath and stand your ground. The target will be hit. I hope this little helps. Happy trading at all times.