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leszekstanislaw
Oct 3, 2015 10:25 AM

USDCAD H4 ABCD - simple as that Long

U.S. Dollar/Canadian DollarFXCM

Description

Potential AB=CD confluenced with low RSI(7) (actually very very low!) - I think somewhere here should be great time for bounce back. Limited support from S/R zones - couldn't find anything really strong. Also it should be noted that on higher timeframe there are some bigger correction 'objects' - one of them is 1.27 of ABCD of here - so there is some chance this fail, but still there will be another chance to enter trade on 1.27of AB (notice confluence with last bottom).

Have a great weekend!
Leszek

Comment

Still in trade. USDCAD cannot decide... and actually it is difficult to say there was proper reaction. I'd say - there wasn't... Anyway, let us wait and see...

Trade closed: stop reached

Stopped. My usual stop is 117%
Comments
crncy

bigger correct in play? we'll see...
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