ApexFX_

USDCAD - Do you need help? FREE Market breakdown for you

Short
FX:USDCAD   U.S. Dollar / Canadian Dollar
Evening all, A nice setup here for me to run through for you all.

If you do need help, all you need to is ask. I don't bite ;)

Ok so, you cannot really see it but to the left we have prior structure which lined up nicely with the 50% fib which would have been our perfect entry and where a sell limit was in place. As we saw price was starting to slow down coming up to target, we watched this closely and executed the trade. From that there was no looking back.

So all we did was take a fib from the recent swing high to what was the recent swing low before the impulsive move up. After we had this in place we looked back on the chart to see if we had prior structure to add confluence with the fib. As we did this made this a nice setup to get into.

Hope you are all doing ok in the current situation!

Comments

good analysis
+1 Reply