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rex_shark
Jun 5, 2020 8:40 PM

USDCAD Long Long

U.S. Dollar/Canadian DollarFXCM

Description

I'm entering long on USDCAD today as we get a close on a confluence of high time frame support levels including the monthly and yearly pivots. We also have a large Gartley pattern formed and bullish divergence while in oversold conditions. A conservative target would be the confluence of the monthly and quarterly pivots at around 1.385 but I could see a push higher to the traditional Gartley pattern targets at 1.413 and 1.45. I like to set multiple targets closing 70% of my position at the first and the rest of my position at the second. As always do your own research and trade at your own risk, this is not financial advice ;)
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