Fractal Breakout: Short USDCAD (H1) - Re-entry
Daily Chart: Bearish
H4 Chart: Bearish
H1: Re-entry opportunity
1) Tenkan, Kijun, Senkou span A and B are all pointing downward, with Tenkan and Kijun showing separation.
2) Chikou just broke the price level (support level), < Price
3) Stop loss at recent swing high
4) Exit plan = bullish TKX, price> Kijun, hits trailing SL based on ATR.
It is unclear if it would be a false breakout but all signs are bearish.
H4 Chart: Bearish
H1: Re-entry opportunity
1) Tenkan, Kijun, Senkou span A and B are all pointing downward, with Tenkan and Kijun showing separation.
2) Chikou just broke the price level (support level), < Price
3) Stop loss at recent swing high
4) Exit plan = bullish TKX, price> Kijun, hits trailing SL based on ATR.
It is unclear if it would be a false breakout but all signs are bearish.
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Risk free trade.