USD/CAD: Possible double top with 2 possible entries
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).
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!
