Sell below 1.3482. Stop loss at 1.3543. Take profit at 1.3387.
Reason for the trading strategy (technically):
Price continues to drop perfectly towards our profit target and has made a nice bearish exit signalling that a change in momentum is expected. We remain bearish looking to sell below 1.3482 resistance (Fibonacci retracement, pullback resistance, swing...
Good Morning all,
Sorry I'm late with this analysis - entered the trade very early this morning and was unable to write up my analysis before now so I apologise for the late entry, however we have plenty room for pips yet so I thought it would be worth adding.
The USDCAD has been trading in a tight range but we've seen a bearish breakout below a lower...
Sell below 1.3540. Stop loss at 1.3595. Take profit at 1.3431.
Reason for the trading strategy (technically):
Price is seeing major resistance below 1.3540 (Fibonacci retracement, Fibonacci extension, horizontal swing high resistance, Elliott wave theory) and we expect to see further bearish movement below this level to at least 1.3431 support (Fibonacci...
Price just this past week hit a key support area on the daily chart, now we just need a little bit of patience for price to give us the right confirmation for it to come to show signs of continuation to the downside. BE DISCIPLINED AND WAIT!
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a break below here will unfold the move towards 1.2820 and 1.28, 1.25 is the extension there which will be unlocked once we see a break below the neckline.
The 1.34 handle is there to be respected, RSI also looks to break below here to further activate the waterfall.
Gl and please remember to give this idea a thumbs up!
