USDCAD short trade | Bearish continuation | multiple confluences
Here we have a beautiful trade setup for USDCAD.
Since our last call price has declined by 160 pips, breaking the small trend channel formed during the ABC correction.
We've seen price pull back to retest the bottom line of the channel & it is now trapped beneath the 0.382 fib retracement level.
Strong upside rejections supports the likelihood of bearish continuation, and we are now expecting to see the formation of wave 3,4 & 5 of a 5-wave move to the downside.
Trades should be placed near current market price for the bets entry level.
Updates will be posted as the trade plays out.
Since our last call price has declined by 160 pips, breaking the small trend channel formed during the ABC correction.
We've seen price pull back to retest the bottom line of the channel & it is now trapped beneath the 0.382 fib retracement level.
Strong upside rejections supports the likelihood of bearish continuation, and we are now expecting to see the formation of wave 3,4 & 5 of a 5-wave move to the downside.
Trades should be placed near current market price for the bets entry level.
Updates will be posted as the trade plays out.
Dagangan ditutup: sasaran tercapai
Both downside targets reached: +198 Pips
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.