Fineight
Short

USD/CAD retracement and SHORT opportunity

FX:USDCAD   U.S. Dollar / Canadian Dollar
Hello traders,

I have just entered this position on USDCAD . I was watching the market for few days and I was looking for a short opportunity.

As you can see from the chart, the price reacted on Fibonacci retracement , we can see a false breakout to the upside and a volatile movement to the downside after that. This confirms the short for me. Also on daily chart there is a Pin bar .

I am going to close the position at 1.37254 in case the prediction is wrong. Otherwise I want to close half of the position at 1.34389 and the rest around 1.32294 which is the PoC from daily chart .

What are your expectations here? Let me know in the comment :-)

Take care.

John
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