USDCAD Short 2018/08/27
Short idea:
Market: Channel on Daily (Flag)
Confirmations for this trade:
1)Market structure: Downtrend
Strong impulse w/ correction forming (price action)
Elliot wave (1,2,3 formed) w/ 4 in motion now leading to 5th final wave
2)Fibonacci ratio (23.6) confirmed w/ previous support / resistance + price reversal zone present
3)Final wave before potential buy at bottom of channel
Market: Channel on Daily (Flag)
Confirmations for this trade:
1)Market structure: Downtrend
Strong impulse w/ correction forming (price action)
Elliot wave (1,2,3 formed) w/ 4 in motion now leading to 5th final wave
2)Fibonacci ratio (23.6) confirmed w/ previous support / resistance + price reversal zone present
3)Final wave before potential buy at bottom of channel
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.