Just opposite to the performance of NZD/USD since August 15th at least, CAD/USD has been trending downward and it has challenged its support level with a breakdown after failing to overcome resistance at the 1.31038 level. This is a short signal to me, but let's see how it goes!
Entry point and Stop level indicated on the chart. Profit target will be taken...
We have had the breakdown out of the ascending channel, like I predicted in the last video. Now, since that has happened we have another opportunity to get involved on the breakdown using a 2618 setup.
Plus we can look to trade this down on a stop and reverse at our major level between 7440 and 7200.
So Phase 1 has played out like I predicted. Let us see if...