USDCAD .... Looking for a Reversal Bottom Long

U.S. Dollar/Canadian DollarFXCM

Description

⋅ Mar 14, 2021 7:42 PM

Keep an eye on USDCAD which may reverse with oil weakness and DXY strength

We have a evolving Deep Crab Harmonic formation on the 1hr. together with aconfluence of 2 modified Schiff Pitchforks.

Deep Crabs sometimes extend to a 1.90 XA extension which is reflected in our stop placement.

Suggested targets are market.

Do your own DD.

S.

Comment

⋅ Mar 15, 2021 1:14 AM

This is why I wait for an entry spot rather than trying to pick a bottom:

Comments

UnknownUnicorn4762443

⋅ Apr 25, 2021 9:05 PM

in this Idea
if you draw fibo tool from x to A and check 0.618 level and candles behavior in the edge of this level. you easily could find that this pattern is not valid for trading.
it was better to see a chart same as this photo

Steve666

⋅ Mar 17, 2021 10:53 PM

Well it DID bottom and will probably go higher; position was stopped in and then stopped out for 55 pip loss.

ForecastCity_World

⋅ Mar 14, 2021 7:52 PM

Interesting idea👍