Sold the USDCAD

2 feb 2023

This is a sell trade of which analysis I did before now however I did not publish it. For the sake of learning and journaling I am publishing it now. This trade like every other trade I take is a trend trade. The USDCAD is trending down and gave a new low, I simply find and mark out the high and label my preferred sell zone represented by the red box. A sell limit order is good for a trade like this. As we see the price pulled back to the sell zone and continued its trend down creating a new low. I took good profit with a 1:2 risk to reward ratio.

What to expect?
I keep it simple and repeat the same steps the gave me this trade.
keep following! I will be updating the chart analysis on USDCAD and publishing it.