ChickFilATrader

6C (USDCAD) Right Shoulder Possibly Forming

Short
CME:6C1!   Canadian Dollar Futures
While ideally the head would be a little bit higher, I'm monitoring this formation in expectation of a right shoulder forming and a subsequent sell-off. Fundamental reasons for a sell-off could be Canadian rate cuts or the fear of canadian rate cuts as the economy slows, or a reversal in the recent bearish trends in the price of oil.
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