USD/CAD SHORT - Multiple Rejections from Trend Line

This pair has has it's price rejected from the trend line multiple times on the 1HR chart and has also rejected breaking above the horizontal trend line, which has given me two confluences to go short. There was a shooting star created 1 day ago on the 4HR chart, however, i believe it was created because of the price reaching the next support level. I believe price will go back towards that level. Another confluence is that a evening star has been formed on the 4HR chart, showing bears will be in full effect. The pair bounced from the 0.618 fib level, and finally, the pair has been created LL's and LH's for two weeks now on the 4HR chart.

Trade stängt: Stopp nått

Kommentera:

Stop was too tight, was a winning trade.