USDCAD SHORT- On the break and close below 4h TL

FX:USDCAD   U.S. Dollar / Canadian Dollar
I think we may have finished retracing for now and heading down.

-I want a break and close below the 4h trend-line in blue here
-Coincides with fib 0.618 retracement
-ABCD Structure in play
-We just bumped our heads on major monthly resistance of 1.4000 and held below
-A lot of long wicks around the 1.4000 too
-Targets as shown
-Another reason why we could be coming down is look left recent support when broken becomes resistance
Trade active: Be patient and wait for the pefect moment and confluence to get in.....no point risking money just to get in the trade :)
Trade active
Trade active: On the way to target. :)
Trade active: Taken some profits at the low but holding the rest :)
Trade closed: target reached: TARGET HIT
Trade closed: target reached: 370 pips on this one!
Trade active: 415 pips up!!!

I think this is going to be a very big drop broken a very significant trend line here
uc nicely will fall down lol
+1 Reply

Key level in the rectangle box here!!!!!! Good rejection and your worries will be over and head back down haha.

Trendline been respected is what we want :)
+1 Reply
+1 Reply
I agree
Jack, Tell UCAD to behave and head south, Lol
+1 Reply
I know ive been adding big shorts and with small targets so Ive taken a good amount of money from this pair so far but didn't anticipate this.
Hanu727 jackmyattFX
Ahhh FX! Never a dull moment. Lol
+1 Reply
Great analysis!!
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