Well I wasn't expecting this pair to sell off as quickly as it did and so I decided to lock in all short positions. Closed all positions early at Target 2
When reviewing all major dollar pairs across the board, they are now displaying the dollar in oversold territories. Gold also like it's at a tipping point to correct to the downside. With that said, I'm now preparing myself to position for the long-side of USDCAD with a near-term target of 1.3980 in participation of Loonie weakness heading into the June crude oil contract expiration on Wednesday.
Long-side Trade Idea: Gradually fade the bearish trend to the 1.39 Handle.
Here's a preview of the Initial Trade Idea
Trade Safe - Trade Well
Cheers!
When reviewing all major dollar pairs across the board, they are now displaying the dollar in oversold territories. Gold also like it's at a tipping point to correct to the downside. With that said, I'm now preparing myself to position for the long-side of USDCAD with a near-term target of 1.3980 in participation of Loonie weakness heading into the June crude oil contract expiration on Wednesday.
Long-side Trade Idea: Gradually fade the bearish trend to the 1.39 Handle.
Here's a preview of the Initial Trade Idea
Trade Safe - Trade Well
Cheers!
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.