1) key fib zone
3) bearish pennant with 1-5 wave inside
Expecting nice sell positions to kick in, taking us down to the -27%, for around 100 pips (provided Oil doesn't push CAD further up)
1. This profile is for educational purposes ONLY!
2. The setups given are my own perspective of the...
Looking to open up some more positions on CADHCF from the previous setup. We had a break and retest on our 4hr CTL (Counter-Trend Line). Now the We're looking for a retest on the Daily CTL
-I Will be looking for a pullback to the trend line (0.7520) and then I will be waiting for reversal patterns to form around that region.
Price is currently at the 50% Fib level of that bullish impulse so there is a potential extended bullish move to complete 100% of the retracement. Bullish divergence is evident.
SL has been marked.
TP has been marked .
Risk exposure - 1%
Risk to Reward - 1:2
Happy Trading ..