USDCAD 2618 (3618?) trade setup on hourly chartWe failed to make a new higher close on the daily chart. If we go to the lower 1H timeframe we see a triple top and break of structure to the downside. Therefore looking to short this as a 2618 trade again at the 61.8 fib (technically it is a 3618 ;).. but I dont think that terminology exists). So a good chance again after a failed 2618 trade on the 4H this week (stopped out at 1.3281.. madness).
Shortusdcad
Bearish Bat pattern : USDCADGood to start Mondays like this...
B Point of our pattern is almost near 61.8% which results in deep bat pattern completion just around X, which reduces our risk too.This pattern has very good risk reward , even our initial targets have more than 1:2 ratio.
As of now USDCAD is about to complete the bearish bat pattern and its just short of 37 pips from our entry level.
If you agree hit likes / Comment your views...
Happy Trading !