Price reversed at this years highs after the Canadian jobs data leaving a bearish daily candle in its wake.

 

After sprinting higher immediately after the data release price lost ground rapidly. Enough of a rejection to warrant a close monitoring of the PA going into the new week.

Always best to be wary of trading early on Sunday / Monday if you have anything other than a very short term poachers view. Often best to let price settle before trading a bias………..I’ve opened a half size short at 1.2584. My plan is to wait for a break of the  1.2560-50 area shown in the charts below to add to to the position

Best of luck with your trading as we enter the new week.

 

 

USDCAD Daily

–Please note– The level in the above chart should read  1.2560 – 50 …………Watch for a move below this area today with a decent follow through + momentum to confirm the short bias.

 

 

USDCAD Hourly

Horatio Dubsly

Horatio Dubsly

Collects more scalps than Crazy Horse and newly crowned Bitcoin top calling master.
Philosophy: "Trading rules.....it most certainly does"

Read how Horatio got into trading here
Horatio Dubsly

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