Disclaimer: This is not a signal, this is just an analysis for your consideration. Use your own strategy to trade this.
This is a short opportunity in USDCAD. When market opens up, if you order immediately, it is a risky order with a larger SL. My preferred and recommended entry is to wait for price to retest the bottom of the blue line zone, or to form a new price action which you can use as a new zone.
Each target line is also a strong Support Area, therefore when reaching target 1, manage your risk and order carefully.
This is a short opportunity in USDCAD. When market opens up, if you order immediately, it is a risky order with a larger SL. My preferred and recommended entry is to wait for price to retest the bottom of the blue line zone, or to form a new price action which you can use as a new zone.
Each target line is also a strong Support Area, therefore when reaching target 1, manage your risk and order carefully.
Trade closed: target reached:
Target 1 reached without retesting the zone.