USDCAD - Bearish Higher Time Frame Swing Materialising

FX_IDC:USDCAD   U.S. Dollar / Canadian Dollar
Very simple
-We saw the historical 30+ year ascending trendline hold up as resistance after a fakeout spike higher, red 786% & 618% bearish fib levels are prominent & also holding
-Price is now breaking a medium term ascending TL & has retested successfully
-Recent Weekly candle close saw a confirmation of bearish pressure
thus I expect a test of green 618% bullish fib level (1.1225) -
*Invalidation* of short bias is a break back above the broken ascending TL turned resistance or 1.3470 handle
Action Plan = Sell all valid 4HR swing highs unless we break above the aforementioned invalidation zone and join in the short term trend reversal
KISS - Keep it simple, stupid


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 Refer a friend My Support Tickets Help Center Ideas Published Followers Following Private Messages Chat Sign Out