FXLeaders
Short

USD/CAD Fibonacci Sell From The GAP

FX:USDCAD   U.S. Dollar / Canadian Dollar
The USD/CAD was the story of the Sunday/Monday forex session. Trade opened the week GAP down, sending forex players to their screens en masse.

For the remainder of the week, sell orders queued up from beneath the 38% retracement at 1.2894 are a good way to play resistance with the trend and rotation in the GAP. Using an initial stop at 1.2926, this trade produces 32 pips on a rotation back toward the bear.

Here it is:

1)Entry: Sell 1.2894
2)Stop Loss: 1.2926
3)Profit Target: 1.2862
4) Risk vs Reward: 1/1
Home Stock Screener Forex Screener Crypto Screener Economic Calendar Shows How It Works Chart Features Pricing House Rules Moderators Website & Broker Solutions Widgets Charting Solutions Lightweight Charting Library Help Center Refer a friend Feature Request Blog & News FAQ Wiki Twitter
Profile Profile Settings Account and Billing Refer a friend My Support Tickets Help Center Ideas Published Followers Following Private Messages Chat Sign Out