USDCAD SHORT SETUP OPPORTUNITY

MARKET SENTIMENT: USD WEAKNESS & CAD STRENGTH

COT DATA:
2021-03-30
(L) 41,944 (S) 48,462
(TOTAL CONTRACTS) 90,406
(% L) 46 % (% S) 54 %
(NET CONTRACTS) - 6,518

MARKET MAKERS SHORT BIAS - SELLING USD & BUYING CAD

AREAS OF INTEREST:
1.2625 - 1.2700 SUPPLY ZONE
1.2550 - 1.2600 SUPPLY ZONE
1.2300 - 1.2375 DEMAND ZONE

TRADE STATEMENTS:
IF MKT INDICATES WEAKNESS IN 1.2550 - 1.2600 AREA; THEN SELL MKT
IF 1.2625 IS TRADED; THEN SELL 1.2625

TRADE MANAGEMENT:
PORTFOLIO RISK PARAMETER (1% - 3%)
SET SL/TP/BE PARAMETERS ACCORDINGLY
LET TRADE DEVELOP

IDEA ALERT:
BE AWARE OF PRICE ACTION AGAINST TRADE IDEA
MKT COULD TURN HIGHER FROM CURRENT LEVEL