rauan
Short

USDCAD 1.3330 to 1.3240

FX:USDCAD   U.S. Dollar/Canadian Dollar
USDCAD             has broken ascending trendline from 03.Nov min 1.3038, currently located at 1.3330, that created lower range for triangle.
Backward testing of 1.3330 suggests entry point for selling USDCAD             with stop-loss above local             high 1.3370 (40 pts) and take-profit at 1.3240 (90 pts).
Target is set with projected orange trendline from 06-10 Nov. highs through 13.Nov low 1.3267, currently at 1.3243 and confirmed by 23.6% Fibo correction ratio (see 4H chart).
snapshot
Trade active: USDCAD remained below blue trend line, 'H&S' figure is likely at 1.3355.
Trade closed manually: USDCAD closed at 1.3255 manually, looking for re-enter at 1.3300 targeting 1.3224, 1.3165, 1.3070.
More details in following idea
USDCAD: dynamic support at 1.3224
did not work
Reply
rauan PRO EvgeniyKunitskiy
Please update the chart: USDCAD didn't move above previous high of 16.Nov and moved down from it to current level. Selling opportunities remain actual for the pair.
Reply
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