USD/CAD - 1.0821 - shorting risks?

USDCAD is at 1,0821 but is still looks the best rade to short it - even now. Even if it goes up to -say- 0970 it is preatty much bound to come back later so even in that case you can get out. What do you think? It is nothing short of a short, right?

looks pretty sound to me at least for the short term (next few hours). Long term anything can happen, but the trend is down.

1.0745 should be no problem... Thogh the main advantage in my view is that even in case it goes up we can re-enter short and get out at least even from the trade. Such trends don't just chop and change... in theory.

That was soooo sweet.

I thing is good time short cad/jpy and long for usd/cad

Have you checked the daily, weekly, or monthly charts for cad/jpy?!?! I think shorting it would be suicide, and the usd/cad is still trending down nicely, and until I see it giving any decent signs of a reversal i wouldnt think about long at all.

I would consider this one a high risk retracement, decent PA but it's lunch time for the US markets. And the 5 min chart has mostly run it's course (with 15 minute support) and very little movement, dictating there's still strength for the trend coming down. Not that I think that it would get far today if it did move down again, but it's slowing the move up, making it a higher risk trade with a small potential profit.

That being said I do think it's retracing, just don't expect a full %50 retracement. 23% is more likely at 738 or 38% at 756 (with support3 at 758).

I look stock market will go down. And JPY will up to 106-105 maybe 103 for cad