USD/CAD, Daily Chart
Chart:
Long or Short: Short
Entry Point: 1.0680
Stop Loss: 1.076 pips (should be above FE 161.8%)
Profit Target/s: 1.0410 (new lows)
Reward-to-risk Ratio: roughly 3.3:1
Risk percentage: 2%
Indicators used: Fib Extention
Trade Rationale:
- Negative Divergence forming in 4hr
- FE 161.8% resistance
- Supply zone in the blue
- Looking for retracement
Trade Adjustments:
Move SL to breakeven once hits 80 pips and take half size off the table