USDCAD Short Trade Set Up Jan 2020
Simple short trade set up on USDCAD.
Nice 4hr rejection of the daily 0.618 fib level. Price is rejecting it and has the potential to make a daily lower high here before heading back down to previous support at 1.29500
Risk trade - Short here at the 0.618 (1.31800) and hope for the 1hr trend and 50EMA to break.
Easier Trade - Wait for a 1hr lower high to be made and sell there.
Nice 4hr rejection of the daily 0.618 fib level. Price is rejecting it and has the potential to make a daily lower high here before heading back down to previous support at 1.29500
Risk trade - Short here at the 0.618 (1.31800) and hope for the 1hr trend and 50EMA to break.
Easier Trade - Wait for a 1hr lower high to be made and sell there.
Comment:
1.32 key level seems to be holding strong. Looks like a bearish leg will occur next.
Trade active
