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FX.co ★ Trading idea for the USD/CAD pair

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Forex Analysis:::2020-09-18

Trading idea for the USD/CAD pair

Betting on an increase in the USD / CAD pair, the strategy presented yesterday was to open short positions in the market, relative to the ABC pattern on the daily chart.

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However, instead of just a short pullback in the pair, the quotes closed with a bearish pin bar, which supports the downward trend:

analytics5f64611ddf413.jpg

Thus, in this regard, the next step is to close the short positions and cancel the long signal, following the framework of the classic Price Action and Stop Hunting techniques.

Of course, controlling the risks is necessary to avoid losing profit.

Best of luck!

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