Home Forex Market Analysis Forex Signals USDCAD Breakout Anticipation Sell

USDCAD Breakout Anticipation Sell

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Flow Assessment

  • Daily sell flow is down
  • Sellers have built up positions on the H4 and penetrated lows in H1

Location Assessment

  • Price is at a M15 retest level after H1 sellers cleared the recent low
  • From the H4 perspective, there is space for the sell to perform until it reaches the next set of buyers (pink line in H4 picture above)

Momentum Assessment

  • We checked to see that the break of the H1 low was not a stop-loss hunt by waiting for the M15 retest and failure to make an equal high
  • Entry trigger activated after sellers showed interest to defend the M15 level

Entry Price – Sell 1.3271

Stop Loss – 1.3292

Take Profit – 1.3228

Risk to Reward – 1:2:05

Profit & Loss Per Standard Lot = -$157/ +$325

Profit & Loss Per Micro Lot = -$15.7/ +$32.5

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