MEX_Exchange
Short

USDCAD reversing nicely, remain bearish

FX:USDCAD   U.S. Dollar / Canadian Dollar

Sell below 1.2654. Stop loss at 1.2766. Take profit at 1.2270.
Reason for the trading strategy (technically):
Price has started to reverse nicely from our selling area. We remain bearish below major resistance at 1.2654 (61.8% Fibonacci retracement , 61.8% Fibonacci extension , Impulsive Elliott wave structure, horizontal overlap resistance, shooting star reversal) and a strong reaction could occur at this level to push price down towards 1.2270 support ( Fibonacci extension , horizontal swing low support). We have to keep a watch out on intermediate support at 1.2382 ( Fibonacci retracement , horizontal overlap support) where another bounce might occur.
Stochastic (89,5,3) is dropping nicely from our 95% resistance level .
HI IS THIS ANALYS STILL AVAILABLE ?
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NoahD FreddieDEMajunga
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@NoahD, I SOLD AT 1.2550 so am in lost reason why i asked if not available i close it
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martin2048 FreddieDEMajunga
@FreddieDEMajunga, I think you should let it open with SL as in analysis. The trade looks good in my opinion :)
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