I have been shorting this pair for a while now. Since it has been on a downtrend with predictable pullbacks and FIB retracements! A 4hr Candle just closed testing the Bearish Flag that broke out recently from GBP strength. This technical analysis has been respecting a weekly structure and is now on course to test the lower Trend Line of this structure. I am...
Tried shorting this pair twice yesterday and failed on both attempts. The first short came at the aggressive structure level that we talked about in Monday's training (which occurs around the B leg of the harmonic move I drew out) and the second attempt came at these very same highs. Unfortunately my stop was about 8 pips too shy and the market got me. Fast...
As you can see in the chart, this whole down leg (from mid November) has been a sequence of break support, make lower low, retest breakout level (support turned resistance), break support etc. You can see in the chart where each retest has occurred and we are now at that level again. We are also ~$10 off the 10 November 2013 low. To me this says we should see a...
USDCAD is Retesting the structure resistance level on daily chart. Potential trend continuation expected as price action retest the structure and then go lower. The idea is to go short for trend continuation trade with stops above the resistance levels. Targets can be Fib 38.2 and 61.8 of the rally. Aggressive traders can stay in trade with trailing stops as the...