Weekly USDCAD Short - Wyckoff Upthrust & a triple top
After the second week closed below the highest bar that poked the previous high we have a strong confirmation to short this Upthrust to the downside. The Poke bar on its own is a sizable one. Our final target is the downside of this range. We also have a Triple Top bearing. On the monthly chart, we are coming from a big downtrend although, on the weekly chart, we can say this is a countertrend trade - we bet that we are in a range at the moment.
Giving and option for take profit target and a final one.
That will be a fairly long trade if it works out properly.
Giving and option for take profit target and a final one.
That will be a fairly long trade if it works out properly.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.