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 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 - Because this is not lining up perfectly, we're going to default to the 127 extension.
This is in direct corrolation with the at the 80% oversold and the above overvalued.
Please follow your Trading plan along with risk and money management, let's follow the standard rules with the and put our TP1 at 1.25383 and TP2 at 1.24805.
Please follow and support Star Prosper trading,
This is Philip Stewart