USDCAD Sell Setup

Time Frame:
- Daily: (FVG Identification)

1. Trend Confirmation:
Identified a Change of Character (CoC) by the break of the previous support at 1.360, indicating a reversal in market sentiment and a new bearish trend.

2. Fair Value Gap (FVG):
On the daily chart noted a Fair Value Gap (FVG) between 1.3810 and 1.3790. The price was rejected in the area, which marked as a potential reversal zone.

3. Trade Execution
Entry Price: 1.3750
SL: 1.3810 (above Daily FVG)
TP1: 1.3435 (previous low)
TP2: 1.3120 (1.618 Fibonacci)
Risk-Reward Ratio (RRR): 1:10

5. Outcome:

Exit Price:
Profit/Loss: pips

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Disclaimer

The analysis and content provided here are intended solely for personal journal and educational purposes. This information does not constitute financial advice, investment advice, or a recommendation to buy or sell any securities. Trading involves significant risk, and you should only trade with money you can afford to lose. Past performance is not indicative of future results. Always conduct your own research and consult with a qualified financial advisor before making any investment decisions.