USDCAD has been on an uptrend. As I am expecting this to continue, I am looking to go long at the 127.2 Fibonacci extension of the leg BC which is within the D completion of a bullish AB=CD. It is in confluence with the 78.6 Fibonacci retracement level of the upswing. Stop loss is just below the swing low. The take profit target is set at the 61.8 Fibonacci retracement level of the AD leg. I will cancel the pending order if there would be a new swing high. Tentative details are as follows:
Trade Setup: Possible Bullish AB=CD
Price Entry 1.32171
SL 1.31760 | SL pips 41.1
TP3 1.33054 | TP3 pips 88.3
TP3 2.15
Trade Setup: Possible Bullish AB=CD
Price Entry 1.32171
SL 1.31760 | SL pips 41.1
TP3 1.33054 | TP3 pips 88.3
TP3 2.15
Order cancelled
New swing low. (December 2)
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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.