MikePips
Short

Another Possible Short

FX:USDCAD   U.S. Dollar / Canadian Dollar
50 0 1
This short is based on the 0.50 Fibonacci level and previous resistance. If the market breaks and closes below 1.2945 with a strong candle, I would short the pair. I don't hold trades over the weekend and my broker closes earlier than the market. Its already closed and theres still 20 minutes until the market closes. Regardless I would use the 1.618 extension as an area to look at for targets. I would front run my take profit by 5 pips to make sure it is filled.
Trade closed: stop reached: I was stopped out for 13 pips.
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