Follow_The_Spiral
Short

USD/CAD Long Term Setup (Short)

FX:USDCAD   U.S. Dollar / Canadian Dollar
As the Fed rate hike approaches in the coming week, I expect rates to stay the same, leading me to have a biased view that usd will fall. As long as the C leg doesn't pass the price of A (1.32546), I believe that ucad will continue to drop based on my harmonic analysis.
To add to that, I'm hoping that OPEC puts some sort of freeze on oil             production, thus leading to higher oil             prices and ucad falling further.

Entry: 1.32
Tp1: 1.3070
Tp2: 1.2950
Tp3: 1.265

Sl: 1.3266
Comment: So, before the debate usdcad broke the previous July high or A point on my harmonic setup. Thus this gartley is now invalid and time to get out of your shorts. But fear not, because now I am playing the cypher setup as I see usdcad going to 1.34 before falling to a 1.26xx level.
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