USD CAD Short with Harmonic Pattern
I am looking for an upcoming short on
USDCAD
I am basing my short claim on previous market action which failed under similar area of resistance
There are 2 different Tp options listed above
1st Tp is set at the 38% fib line which is measured from the entry point to the C leg of the harmonic pattern
2nd Tp is set at the 50% fib line which is measured the same way
Be careful with this trade as the entry has not securely formed showing details for the short. Once you see a definite confirmation for the sell, I would then enter the trade.
This trade is for educational purposes only, and not a recommendation to take based on my charting
USDCAD
I am basing my short claim on previous market action which failed under similar area of resistance
There are 2 different Tp options listed above
1st Tp is set at the 38% fib line which is measured from the entry point to the C leg of the harmonic pattern
2nd Tp is set at the 50% fib line which is measured the same way
Be careful with this trade as the entry has not securely formed showing details for the short. Once you see a definite confirmation for the sell, I would then enter the trade.
This trade is for educational purposes only, and not a recommendation to take based on my charting
Comment:
Comment:
Price has already started its downward descent before reaching the entry I listed.
I've highlighted the area of where the reversal happened in the pink circle
If you still want to jump in on this trade, you could get in on the pullback shown in the green circle around 1.32775 and short it down to the 2nd TP
I've highlighted the area of where the reversal happened in the pink circle
If you still want to jump in on this trade, you could get in on the pullback shown in the green circle around 1.32775 and short it down to the 2nd TP
Comment:
TP 1 Reached, Hopefully you were able to secure pips!