See daily chart of USDCAD below for the discussion that follows.
USDCAD broke important support this past week. I’ll consider going short if price retraces back to resistance (prior support). I will have to see bearish price action / candles first (confirmation).
Remember, always have your own trading plan and never follow other people blindly. Always know where you will be proven wrong on any trade and have stops in place. Stick to your stops and never bet the farm.
On Ideas: Please don’t take this as trading advise. Please do your own due diligence before entering any trade. Also see Disclaimers.
Thanks for reading.