Casey_Yeo
Short

USDCAD - potential 2618 trade

FX:USDCAD   U.S. Dollar/Canadian Dollar
Daily - Market was in downtrend from March to July, before rallying back up and stalled at 50% retracement of the downtrend. That is also a resistance zone if we look left.

H4 - We can see a double top formation with price broken below the neckline around 1.09 and is now potentially retracing upward towards 61.8% fib retracement for a 2618 trade. Will be looking to short at the sell zone to be in line with daily trend.
Casey_Yeo
2 years ago
H4 chart below for the 2618 setup.
snapshot
+1 Reply
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