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jouke.hartman

Trade the Fibonacci Bounce

Short
U.S. Dollar / Canadian Dollar (FX:USDCAD)  
jouke.hartman Updated   
FX:USDCAD   U.S. Dollar / Canadian Dollar
Trend Analysis Fibonacci Support and Resistance USDCAD trading targets bounce tp sl
3
0
trendanalysis fibonacci supportandresistance usdcad trading targets bounce tp sl
USDCAD was not able to break through the 61.8 fib level.

A possible trade on this setup is to open 2 small positions, both with the SL above the test of the 61.8 fib level. TP1 at the 50 fib level and TP2 at the support level showed in the graph. If TP1 is hit, move SL on the remaining positon to entry level.


If you have any questions or feedback on this analysis, feel free to share!

Happy Trading!
Comment:
Price hit SL and was able to break through resistance. Tight SL so minimum loss.
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