Recently found this great trading opportunity in USD/CAD 1H, where Market is retracing after a good uptrend.
The idea is, that we're looking for a market over extension at a 1.618 Fib. Inversion, in expectation that we're gonna see a move back into trend after price reach that level. Which happen to be at the same area with an completion and a looking left.
And just as I've told you in my previous update, ahead of The Fed Statement like now, when we can expect to increase trade with beautiful R/R ratio like this is a really good way to approach the market. If you do this consistently guys, you'll see the positive result over the long run.
That's it for today guys. I hope this one is beneficial. God Bless.