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gorestreet.hk
Jul 20, 2017 3:13 PM

USDCAD / 60m / Triangle BO Short

U.S. Dollar/Canadian DollarFXCM

Description

FX Analysis (2017-7-20)

USDCAD has just broke out the Triangle consolidation area (Blue arrows).

We look to short at a retest of the BO Line.
TP#1 @fib Level 1.618, which is also a Key Level Structure support on Weekly Chart. Thus, we should look to cover all positions before this level.

Additional:
In the bigger picture, we should expect some sort of rebound near the Weekly Support. Look for reversal patterns.
Comments
calmascow
SL1 ATR above previous High ... May I know what is the meaning of this? How to determine this line? Many thanks!
gorestreet.hk
@calmascow, Average True Range. This is an indicator.
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