USD/CAD bear flag
Despite a strong jobs number on Friday the USD wasn't able to move higher huge.
The Trade Idea:
Usd/Cad Put
Entry price: $1.09800 then $1.09550 then $1.09400
Target price: $1.09200
Stop level (don't want to see price higher than): $1.09900
Why I like Usd/Cad Put here:
1) Weakness after break down of $1.10160 with further powerfull move means that sellers are strong.
2) Bear flag in lower half of that potent move means controlled pullback.
3) strong resistance with well defined prices.
The Trade Idea:
Usd/Cad Put
Entry price: $1.09800 then $1.09550 then $1.09400
Target price: $1.09200
Stop level (don't want to see price higher than): $1.09900
Why I like Usd/Cad Put here:
1) Weakness after break down of $1.10160 with further powerfull move means that sellers are strong.
2) Bear flag in lower half of that potent move means controlled pullback.
3) strong resistance with well defined prices.
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