USDCAD Short
USD has made multiple AB=CD pattern with around 850 pips bullish and retrace to around 61.8 - 76.4 fibonnaci. Thus, we can open sell position at 1.363-1.365 (after reversal confirmation) and aim for 61.8 fibonnaci retracement, because:
1. It finish the AB=CD pattern (850 pips) at 1.363
2. RSI overbought parale
3. It might end elliot wave 5 and start the wave A
4. Stop loss is safe and it has good RR ratio
1. It finish the AB=CD pattern (850 pips) at 1.363
2. RSI overbought parale
3. It might end elliot wave 5 and start the wave A
4. Stop loss is safe and it has good RR ratio
Note
Don't forget to take some and set the SL at BEPTrade closed: target reached
+500 pips
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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.
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.