USDCAD intraday short
Trend: Mixed
Confluences:
Rejection of Monthly QHi in progress
H4 QHi
Potential selling tail on the profile
Last trade for today before FOMC:
Shorted USDCAD after the CPI numbers.
Canada came out with very nice manufacturing sales figures, so probably causing the CAD strength.
Entry is at 1.3375
Stop is at 1.3410
Target is at 1.3244 - H4 QLo
Alternatively, target is time-based for 30 mind before FOMC should the position survive until then.
This is a drawdown period for me this week so its even more important to limit the number of trades per day and to stick to H4 timeframe for entries.
EDIT: Chart!
Trend: Mixed
Confluences:
Rejection of Monthly QHi in progress
H4 QHi
Potential selling tail on the profile
Last trade for today before FOMC:
Shorted USDCAD after the CPI numbers.
Canada came out with very nice manufacturing sales figures, so probably causing the CAD strength.
Entry is at 1.3375
Stop is at 1.3410
Target is at 1.3244 - H4 QLo
Alternatively, target is time-based for 30 mind before FOMC should the position survive until then.
This is a drawdown period for me this week so its even more important to limit the number of trades per day and to stick to H4 timeframe for entries.
EDIT: Chart!
Attached Image