Looking to short UJ looking for that 3rd touch on our descending trendline with a fairly decent resistance level . we have a 78.6% retracement on the Fibonacci. Now that we have 3 confirmations ,I will simply scale down to the 1 hour where I 1-Either look for rejections with wicks or 2-Look for a BOS Please manage risk Risk what you can afford to lose! protect...
We have 3 confluences key level 50% retracement trendline rejection PLEASE MANAGE RISK
CONFLUENCE - 3 78.6 FIB retracement trendline touch resistance
CONFLUENCE - 3 Expecting USDCAD to reject off the 61.8 % Reject the 4 hour trendline with a decent support As well as a DEMAND zone
CONFLUENCE - 3 Rejection off the descending trendline 61.8 % retracement Major key level of S/R
Confluence -3 trendline retest golden ratio retracement Break of structure