USDCAD Short
USDCAD has seemed to of reached a nice rejection area off previous resistance and descending as well as the 78.6% lying along that area. Price has retraced to the completion of the first retracement leg to the exact pip and duration day, signalling that the current retracement leg has now completed and is ready for the extension leg. Once we have rejection from lower time frames I will short USDCAD with the overall target of the fib extension leg being duplicated with the target being the -27%. I also expect that the duration of this trade will take 34 days to complete as it will be duplicating the first extension leg all over again.
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