A significant retracement should be expected at this level.
TRIGGER AT FIB 0.618 SL ABOVE FIB 0.500 TP BETWEEN FIB 1.414 AND 1.618 (ABCD PATTERN COMPLETE) CLOSE 1/2 POSITION AT FIB 1.000 (OPTIONAL)
TIGHT STOP USING RESPECTED CHANNEL CENTERLINE AS SUPPORT ABCD PATTERN PROJECTION MATCHES CHANNEL TOP PROJECTION TP AT CHANNEL TOP MAY ALIGN WITH FIB 1.414 LEVEL
RSI 50 LEVEL CROSSED ABOVE TO BULLISH TERRITORY A,B AND C POINTS STAMPED LONG POSITION TRIGGER AT NEXT RSI PULL BACK (ABOVE 50)
ALREADY IN POSITION. TRADE TRIGGERED WHEN RSI BOUNCED ON THE SUPPORT LINE . 1ST TARGET AT BLUE CHANNEL CENTERLINE (USE ALERT) 2ND TARGET AT BLUE CHANNEL TOP
PRICE RETRACED TO PREVIOUS CHANNEL TOP AS SUPPORT. LONG POSITION TRIGGERED.
PRICE REACHED CHANNEL BOTTOM, TAKING THIS RETRACEMENT AS A LONG OPPORTUNITY. TP AT CHANNEL CENTERLINE;TIGHT STOP; HIGH RR.
REBOUND AT FIB KEY LEVEL SUPPORT ; BASIC HH HL SETUP
USD CAD overdue bear flag on weekly perspective;
THERE MIGHT BE A RETRACEMENT KISS TO THE ANDREW'S FORK BEFORE FURTHER DOWN. NO SHORT TARGET AVAILABLE YET.
RSI fell below 50 (double check with weekly RSI); descending highs (accelerating); price reject below neckline.
AUD USD channel trading setup. If the ascending channel prolong and turn into a bear flag, setup failed. Otherwise, entry at fib 0.5 level: SL at 0.382 level: TP at 1.618 or right beneath channel top.
Broke upward channel. Re-enter downward channel (DC). A retest to the DC top may happen and also the valid entry. Channel alert function comes handy.