KVE
Short

USD/CAD: Possible double top with 2 possible entries

FX_IDC:USDCAD   US DOLLAR / CANADIAN DOLLAR
66 3 7
a year ago
In case this pair forms a double top at the 61.8 fib level 2 possible short entries could be considered.

One agressive short entry at the top of the possible double top. Agressive since the pattern would need to go down first to actually confirm it...

A second possible short entry on completion of the double top and after a re-test of the baseline (PA will determine where it would actually be situated).

SL for both above round number levels and targets at previous structure / round numbers / fib retracements.

If we have a confirmed breakout above the 61.8 fib and the 1.3500 level I will be looking for long entries (possible completion of a bearish bat on the monthly chart, see linked idea).
a year ago
Comment: This one was in line with the upward direction:
USD/CAD: Short-term long based on consolidation breakout

Nice trade!
Our analysis concurs with your view. The monthly trend angle is quite steep and bound for a reversal. Moreover, the monthly chart also shows an ascending channel with the price right at the top. It would take a significant catalyst for it to break to the upside, a scenario that's possible, but the odds are in favour of a reversal at the moment given what the price action is hinting.
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ClearEdgeFX PRO ClearEdgeFX
a year ago
snapshot
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KVE PRO ClearEdgeFX
a year ago
Tnx for sharing!
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