USD/CAD: Possible bullish shark's might send this pair back up.
HIGHER RISK INVOLVED WITH THIS ONE!
Possible trade setup based on (a) possible bullish shark(s).
I came across this one in my search to get in at a decent level for a short trade on this pair.
The min. shark would end at a possible B of a bullish butterfly but there is always the possibility that we will get to completion of a max. shark, therefor, when entering at completion of the min. shark the SL should be below the max. shark completion level.
3 targets are drawn on the chart, the 2 'conventional' targets at the 38.2 and 61.8 fib levels and the 3rd at the level where a possible C of the bullish butterfly would complete (and that's where I would like to enter short again!).
Because of the fact that we see a 38.2 retracement coming close at 1.3285 I will not risk more than 0.5% of my equity on this trade! This is a higher-risk trade for me...
Possible trade setup based on (a) possible bullish shark(s).
I came across this one in my search to get in at a decent level for a short trade on this pair.
The min. shark would end at a possible B of a bullish butterfly but there is always the possibility that we will get to completion of a max. shark, therefor, when entering at completion of the min. shark the SL should be below the max. shark completion level.
3 targets are drawn on the chart, the 2 'conventional' targets at the 38.2 and 61.8 fib levels and the 3rd at the level where a possible C of the bullish butterfly would complete (and that's where I would like to enter short again!).
Because of the fact that we see a 38.2 retracement coming close at 1.3285 I will not risk more than 0.5% of my equity on this trade! This is a higher-risk trade for me...
Trade closed: stop reached
