USDCAD is failing to break a major resistance level. USD pairs have reversed. USDCAD bullish pressure has managed to maintain a consolidation relative to other pairs, but a big move is overdue. This trade is using harmonic fibonacci levels as supports for price targets.
SL: 1.293
TP1: 1.2765
TP2: 1.263
SL: 1.293
TP1: 1.2765
TP2: 1.263
Comment:
SL was triggered. A double top may be forming, which means a possible re-entry into the trade.
Comment:
Price has moved back within range for the past 12 or so hours. Will continue watching for a re-entry confirmation. If it breaks the SL level, it will likely re-enter the range of the past 2.5 months. Which means re-enter and aim for TP1.
Comment:
Peeked out of the range yesterday but it's back now. Still awaiting confirmation.
Comment:
As I said. Solid drop into the range. If you haven't entered already, I believe it will move towards at least TP1 (1.2765).
Order cancelled:
A major support has been tested and confirmed in the 1.281 to 1.283 zone.