tradingwithSukh

USD/CAD to the downside of 1.33000 - 1:3 RR

Short
OANDA:USDCAD   U.S. Dollar / Canadian Dollar
USD/CAD bearish sentiment for price to drive down to the 1.33000 area (fib extension).

- B&R scenario playing out (4H)
- Rejection of the 0.618 fib zone
- Rejections of the psychological price of 1.34000
- 3rd leg/drive to fulfil to the downside as orders have been accumulated (consolidation).

I would take the majority of profits before 1.33000, at the recent daily low of 1.33160.

There is a high chance that USD/CAD could just melt right down this week.

Personally don't like trading on Sunday night/Monday, please be careful. This is just a trade idea.

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