Jroge107

EURCAD: Overextended + Divergence

Short
FX:EURCAD   Euro / Canadian Dollar
Nothing fancy. Divergence coupled with a new low printed followed by a retest of the .786 fibonacci retracement. Stop is ATR + Spread above the high with TP1 being the pinbar (structure low) and TP2 being the 1.272 extension. Notice on the scaled out chart that we could be at the top of an ascending triangle, so greater potential downside exists.

-Trade Smart :D
Disclaimer

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.