EURCAD: Selling Opportunity

Here is an example of a possible short trade. The price broke the local uptrend line and moved below SMAs. MACD is bearish, and the same goes for DMI. Probably we will see a short term pullback toward 1.58000 resistance zone, but we should expect the continuation of the downward movement.

Sell below 1.57285
Stop above 1.58050
Profit Target at 1.55550

Risk per trade must be no more than 1-2% from the capital. This trade opportunity looks rather risky, and that's why it will be better to move stop orders to breakeven as soon as the market provides such an opportunity.



Disclaimer!
This post does not provide financial advice. It is for educational purposes only! You can use the information from the post to make your own trading plan for the market. But you must do your own research and use it as the priority. Trading is risky, and it is not suitable for everyone. Only you can be responsible for your trading.