USDCAD:
Entry @ 1.33134
Second Entry @1.33515
SL@ 1.33386
TP1 @ 1.30739
TP2 @ 1.29765
If market breaks above daily level of structure and finds support at .382 level, high may be reached at .618 level which lines up with daily downtrend. Measured move indicating residual momentum so TP2 @ 1.29765 with entry between .618 and .71 levels. Respective totals of 239 pips and 362 pips!
Entry @ 1.33134
Second Entry @1.33515
SL@ 1.33386
TP1 @ 1.30739
TP2 @ 1.29765
If market breaks above daily level of structure and finds support at .382 level, high may be reached at .618 level which lines up with daily downtrend. Measured move indicating residual momentum so TP2 @ 1.29765 with entry between .618 and .71 levels. Respective totals of 239 pips and 362 pips!
Comment:
Bearish pin bar has formed, going to wait for rejection from 21MA before entering the market or will wait for market to retrace to .618/.71 levels.