2018Oct10 USDCAD H4 Double Top-2618
USDCAD has been on a downtrend and formed a double top with broken neckline. As it is also on a trendline resistance, I am looking to go short upon a 61.8 Fibonacci retracement of the price from the 2nd top to the swing low. Stop loss is just above the 2nd top while the take profit target is at the 38.2 Fibonacci retracement of the swing low to swing high. I will cancel the pending order if price goes to TP1 before getting triggered.
Trade deatils are as follows:
Trade Setup: Double Top-2618
Price Entry: 1.29724
SL 1.30086 | SL pips 36.2
TP1 1.29233 | TP1 pips 49.1
RRR1 1.36
Trade deatils are as follows:
Trade Setup: Double Top-2618
Price Entry: 1.29724
SL 1.30086 | SL pips 36.2
TP1 1.29233 | TP1 pips 49.1
RRR1 1.36
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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.