Traders, there is possibly a new good trade coming your way! It is not XAUUSD it is not NASDAQ it is a USDCAD trade setup!
After it has formed a triangle in the past three months, USDCAD has recently broken below this triangle and has retested it with a rejection candle.
For us traders, this is a great triangle consolidation break set up with a high probability short trade and an excellent risk to reward something needed in your personal trading and, of course, trading with our funded trader accounts.
To invalidate the extension lower USDCAD now has to break above 1.3520. This is an indicator of where your stop loss should be because a break above this level would mean that there will be no downside extension confirmation
In this case, the risk to reward is 1.82, and the probability of a good profit and an extension lower targeting 1.3050 and even more. Stop loss should be above 1.3520.
