SHORT USDCAD 250 + PIPS!

Enter short within the Supply Zone and enjoy the ride!

When trading Supply and Demand Zone areas i always prefer to try to enter somewhere towards the middle of the range which would be 1.3141 to be exact. This will give us a good risk to reward ratio. Stop Loss above SZ. Confirm your entry using your own charts . I just wanted to point out if you are looking to sell this pair then this is a good area to start looking. Stochastic is becoming overbought as well. We will confirm with price action.

Good Luck !

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Comment:

By taking a look at the 4hr chart it looks like our sweet spot for entry will be between the range of 1.3150 - 1.3185. The 1.618 Fib Extension is at 1.3127 within our Supply Zone. Any of these levels will be greatly considered once we get our sell signal.

Preferred Entry @ 1.3150-1.3185
Stop @ 1.3225
TP 1 @ 1.3018
TP 2 @ 1.2908

Comment:

We are now about 20 pips deep into the Supply Zone. We are getting close to entry

Comment:

Will Enter at 1.3127 at the 1.618 Fib Extension. 2nd Entry will be at 1.3150.

Always split total lots to be traded into two trades to get best entry . If the first entry does not hold then that is why we don't go all in on the first try. First entry is your test entry. If we are wrong then the 2nd Entry will give us an even better entry without having to risk more than what we initially planned.

Trade active:

Entry # 1.3127 reached

Comment:

Entry #2 met 1.3150.

Comment:

This was a precision entry and is doing very well. Now we are up 60 pips let's see if we can get 300 ;)

Comment:

Met resistance.

Trade closed: target reached:

TP2 Hit