Nice idea on USDCAD and there may be bearish potential as you have identified. The 1st resistance that we have identified is at 1.3066, which is lower than your sell entry level. It is a horizontal swing high resistance with 61.8% Fibonacci extension and 61.8% Fibonacci retracement. Stochastic is approaching its resistance at 96% where a corresponding reversal could occur. If a reversal does occur, we may take a closer look at the 1.2999 support, which lies above your tp1. It is a horizontal pullback support with a 50% Fibonacci retracement. Looking forward to see how things develop.
Please have a look at our idea and share with us what you think.
Please have a look at our idea and share with us what you think.