USDCAD at top of Rising Wedge and rejected at 1.3, Short Short

U.S. Dollar/Canadian DollarFXCM

Description

⋅ May 9, 2016 4:27 PM

Shorting here off a rising wedge pattern, UC was rejected at 1.3, and now bearish,possible +50% retracement. shorting here at top of wedge with a tight stop

Comments

Devilian

⋅ May 9, 2016 4:40 PM

How was it rejected? Didn't it break through?

SighTTrader

⋅ May 9, 2016 6:15 PM

It needs to create a base above 1.30 and then move up, it broke but then kept being sold below 1.3.