FX:USDCAD   U.S. Dollar / Canadian Dollar
457 9 15
Market Analysis: The pair has reached the support level and is now heading for a retracement. I believe it may go up to the fib 61.8. So once it reaches there we may see a good rally for a down trend. So lets see what the market does. Cheers!
Hi Kishore,
While I agree with your trade as its basically a trade 2618 setup from a double top.
I don't see any bearish completed patterns that are valid on the DAILY (unless its a Cypher which I don't use)

What are your harmonics you have drawn up?

There is a valid bat on the 4HR which is in progress from the current swing trade from the low (not drawn up sorry)
Or there is a failed Gartley (as shown) but open to a type 2 trade which would also validate the possibility of the 2618 setup.

Good analysis however,
Kishore Swerver
Hello Swerver,

Thanks for your valuable comments. I do agree with you. I just saw there is a resistance near to that of the fib 61.8. I'm just waiting for the market to reach the area. I don't open an entry right away once it reaches the fib level. I wait for the confirmation in multiple ways. Which i use to enter a trade. This setup is only to caution that the overall trend is in sell. And the market is going for a retracement not for buy trend. So it could benefit many to help them find the trend. cheers!
Swerver Kishore
You're welcome thanks for sharing.
very excellent work. nice to see such a good technical view.
Kishore paulsubbureddy
Thank you very much sir!
what about ur view in crude? i think it has gone for buy trend. i am expecting some retracement today.
Kishore paulsubbureddy
It's still in a buy trend sir. Need not go for sell for some times. We want to be in a conservative side. So its better to stay away from anti-trend trading. Cheers!
tnks for ur suggestions.
Kishore paulsubbureddy
Welcome sir!
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