Forex trading pair: Usd cad h4
Lets see a trade which we recently took.
Entered on an almost inside bar. Which is also a bearish bar. Nicely located at the fibonacci level of 61.8%.
We trade with a plan, small stop loss above the inside bar.
Target profit at the confluence area of the
1) Fibonacci level of 23.6
2) Price pivot area
3) 150 Exponential Moving Average
167 PIPS .. SIMPLE trade. Nice risk reward ratio.