simontien
Short

AB=CD completing at major structure

FX:USDCAD   U.S. Dollar/Canadian Dollar
Price have already been rejected on Friday but there is still some momentum to the upside in place. RSI is going overbought.
Action: wait for a double top or some bearish candle formation to short
what's the possible target area?
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simontien NickLee
Usually the first profit target trading an AB=CD pattern would be 38.2 Fibonacci retracement of the entire move (AD). If you want to be more conservative, first target would be the previous structure looking left (in the chart corresponding to 1.27 fib extension of AB leg)
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