USDCAD Wait the Retracement Then Long
Hi guys, here is my analysis 
USDCAD.
At the moment the price is in an up trend but looks like it is retracing to the trendline.
When this will happen I will look for a long entry also if in the daily chart the price appear overextended, because I think that price wont sell off untill it wontdoes not touch the 0.5 Fibonacci level that already acted well as a resistance.
To recap:
Check the previous part of this analysis onUSDCAD to see how it is gone, it is in the related ideas.
For any question or suggestion, comment below.
Thanks for reading.
USDCAD.At the moment the price is in an up trend but looks like it is retracing to the trendline.
When this will happen I will look for a long entry also if in the daily chart the price appear overextended, because I think that price wont sell off untill it wontdoes not touch the 0.5 Fibonacci level that already acted well as a resistance.
To recap:
- ENTRY POINT = trendline touch (but always wait for confirmation);
- TAKE PROFIT = 0.5 Fibonacci level at 1.33398.
Check the previous part of this analysis on
USDCAD to see how it is gone, it is in the related ideas.For any question or suggestion, comment below.
Thanks for reading.
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