USDCAD scalp short on exhaustion reversal
https://www.tradingview.com/x/6gMegCnY/
As always, we like to keep it clean and simple, with technicals and analysis that's easy to see and understand. Let's get into it:
1. Wave 5 exhaustion on mult timeframes
2. Overbought 30m/1h/1D
3. Shooting star candle printed on 1h
Analysts note that USDCAD is trading within a rising channel since late September, recently peaking at 1.4178. The bullish momentum suggests potential for further gains, but short-term corrections (ie. why we're scalping) are common as traders take profits and reassess positions.
Market Sentiment and Data Releases: With key U.S. and Canadian employment data released recently, markets may experience volatility as traders digest the information. This can often lead to short-term corrections as the market adjusts to new economic indicators.
Be Alert.
Trade Green.
As always, we like to keep it clean and simple, with technicals and analysis that's easy to see and understand. Let's get into it:
1. Wave 5 exhaustion on mult timeframes
2. Overbought 30m/1h/1D
3. Shooting star candle printed on 1h
Analysts note that USDCAD is trading within a rising channel since late September, recently peaking at 1.4178. The bullish momentum suggests potential for further gains, but short-term corrections (ie. why we're scalping) are common as traders take profits and reassess positions.
Market Sentiment and Data Releases: With key U.S. and Canadian employment data released recently, markets may experience volatility as traders digest the information. This can often lead to short-term corrections as the market adjusts to new economic indicators.
Be Alert.
Trade Green.
交易結束：目標達成
DECEMBER 10 UPDATE
Took profit manually on USDCAD short scalp.
50 and 200 SMA are showing upward trend still, so wanted to lock in profits.
+$1,222.
On a side note, this is forming a shooting star candle on the 4h, which suggests further downward movement.
Be alert.
Trade green.
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