USDCAD Short 29 Apr 2020: 2.85R Profit!

USDCAD started to move down making lower lows and lower highs after reaching a short term peak on 21/04. In addition, the 20ema has been sloping downward indicating the short term trend is down.
USDCAD broke below its SR zone at 1.3998-1.4023 on 28/04.

USDCAD 4-Hour Chart

I entered short at 1.39801 on 29/04 after it retraced up to the SR zone. I placed my stop loss at 1.4015 (risking 35 pips) and TP at 1.3880 (potential reward 100 pips) giving the trade setup a 2.85 reward/risk ratio.

My TP was hit at 1.38799 the next day on 30/4.

Disclaimer:
Trading and investment involves risk, including possible loss of principal and other losses. I shall not be responsible for any losses or loss profit resulting from trading or investment decision based on my posting and any information presented in this blog.