JallenForex
Short

USDCAD short trade | Bearish continuation | multiple confluences

FX:USDCAD   U.S. Dollar / Canadian Dollar
Here we have a beautiful trade setup for USDCAD .

Since our last call price has declined by 160 pips, breaking the small trend channel formed during the ABC correction.
We've seen price pull back to retest the bottom line of the channel & it is now trapped beneath the 0.382 fib retracement level.

Strong upside rejections supports the likelihood of bearish continuation, and we are now expecting to see the formation of wave 3,4 & 5 of a 5-wave move to the downside.

Trades should be placed near current market price for the bets entry level.

Updates will be posted as the trade plays out.
Trade closed: target reached: Both downside targets reached: +198 Pips

Comments

Home Stock Screener Forex Screener Crypto Screener Economic Calendar How It Works Chart Features Pricing Refer a friend House Rules Help Center Website & Broker Solutions Widgets Charting Solutions Lightweight Charting Library Blog & News Twitter
Profile Profile Settings Account and Billing Referred friends Coins My Support Tickets Help Center Ideas Published Followers Following Private Messages Chat Sign Out