StarProsper
Short

USDCAD / 4HR / GARTLEY PATTERN

FX:USDCAD   U.S. Dollar / Canadian Dollar
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BUY ZONE CHANGED TO SELL ZONE (excuse my mistake)

Great trading week, I hope everyone did alright with the USD news that hit on Friday. After the news had settled down, it set up a nice Gartley Pattern on the USD/CAD chart on the 4 hour period.

As always, keeping an eye on our previous structure levels at 1.27777 - 1.23773 highlighted in black and about to close at current previous structure at 1.26406, we can assume that this is a nice countertrend point.

After completion, we have the 127 extension along with the 786 fibonacci confluence - Because this is not lining up perfectly, we're going to default to the 127 extension.

This is in direct corrolation with the RSI at the 80% oversold and the STOCH above overvalued.

Please follow your Trading plan along with risk and money management, let's follow the standard rules with the Gartley Pattern and put our TP1 at 1.25383 and TP2 at 1.24805.

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This is Philip Stewart
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