Hi,
Please refer chart for details.
USDCAD had 5 waves down and current upward movement looks like correction in abc form.
Price retraced to 61.8 fib level of last down move - Price action is supportive, MACD and RSI indicates bearish divergance.
Reward / Risk = 4.6 for this setup.
Trade with care
Gulz
Please refer chart for details.
USDCAD had 5 waves down and current upward movement looks like correction in abc form.
Price retraced to 61.8 fib level of last down move - Price action is supportive, MACD and RSI indicates bearish divergance.
Reward / Risk = 4.6 for this setup.
Trade with care
Gulz
Trade active
As anticipated downward move is startedTrade active
60+ PIPS DONENote
stay with strict stop .. today might be big day for USDCADTrade closed: stop reached
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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.