If you've been following me for any time now then you know that I've been completely obsessed with the USDCAD over the past 3 months or so and it hasn't disappointed one bit. After our post interest rate consolidation, we've begun to see some fresh movement which has me looking for another opportunity to get short.
What I'm looking for is a version of what we call The Fibonacci Inversion trade where we look for the market to put in an overextended relief, that tricks (in this case) buyers into believing that a rally is coming when it's simply a complex correction.
If you just watched the Syndicate video on this, I did not get the reason for entry at the top of the hour, so this is a pair I'll be watching closely tonight and possibly into tomorrow's trading day.
Akil Stokes "Just Had My 2nd Coffee So I'm Good To Go!"
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I still think we can go down to 1.2550's on this pair. That's where I'll be trailing to