USDCAD scalp short on exhaustion reversal

2024년 12월 10일

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.

2024년 12월 10일

거래청산: 타겟 닿음

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.