Not taking a CAD trade

AshleyTrader

Newbie
9 1
The CAD went right down to the expected support. It seems to be still following my trend lines, but we have had a couple of lower highs. And the last bounce only took us up to about 1.0564. So this indicates to me we are just going to go lower and lower, but we have no proof to back up this new behavior. Now I have no good idea where resistance is going to be or when support is going to give way. These are the reasons I will not take a trade.

CAD_support_where_i_expect_it-1024x538.png


You can find a bigger version of the chart here: Update on the 240m CAD | Ashley Trader
 
 
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