KVE
Short

USD/CAD: Possible double top with 2 possible entries

FX_IDC:USDCAD   U.S. Dollar / Canadian Dollar
66 3 7
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).
Comment: This one was in line with the upward direction:
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 ClearEdgeFX
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KVE ClearEdgeFX
Tnx for sharing!
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