USDCAD Dropdown and Break Trenline
USDCAD Crosses the Trendline and creates a new bottom at the 38% Fibonacci line
So now the uptrend has been broken.
We can consider entering an order
#1 Sell: 1.34958 fibo zone 23.6%
Stop loss: 1.35520
Take profit: 1.33889 at fibo 50%
#2 Sale: 1.35211
Stop loss: 1.35521
Take profit: 1.33429 at fibo 61.8%
#3 Follow the price movement closely. You can close half of the order when the price touches the 38.2% fibo line: 1.34370 and move the SL to the entry point to preserve profits.
#4 You should only enter a maximum of 1-2% equity.
#5 Good luck to you.
So now the uptrend has been broken.
We can consider entering an order
#1 Sell: 1.34958 fibo zone 23.6%
Stop loss: 1.35520
Take profit: 1.33889 at fibo 50%
#2 Sale: 1.35211
Stop loss: 1.35521
Take profit: 1.33429 at fibo 61.8%
#3 Follow the price movement closely. You can close half of the order when the price touches the 38.2% fibo line: 1.34370 and move the SL to the entry point to preserve profits.
#4 You should only enter a maximum of 1-2% equity.
#5 Good luck to you.
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.