jamsterfd

Bearish Harmonics, a medium term trading opportunity in USDCAD

Short
FX_IDC:USDCAD   U.S. Dollar / Canadian Dollar
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1
For the past week, we have seen an appreciation in USDCAD which has traced up the C-D leg of a bearish Gartley pattern. Point D has now been met and according to chart theory, if the XABC points have all been met and the price moves towards the last level D and reaches that point, the pattern would indicate a reversal at this level and a possible retracement of 38.2 - 61.8% of the CD distance.

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