USDCAD has been bullish for the past few days and we are seeing price stalling at the resistance area drawn on my chart. Price was indecisive (no clear winners for bears and bulls) the day before and price has turn into a large bearish pin bar on the daily yesterday. On the 4HR chart, price has been hovering in the area for a while, and came a large bearish candle. Looking for price to retrace slightly before going short for a better risk to reward.
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Price did retraced and my pending sell orders were triggered. Price traded sideways for a few days before bears took control yesterday. Holding on to my trade and monitoring how prices unfold. First target at around 1.30 as there seems to have some small support levels and also it coincides with a psychological level. Looking to extend my targets if prices remain bearish.
Edward
Edward