USDCAD Short- Trendline Retest and 61.8% Fibonacci Retracement

Feb 21, 2020

I am already Short on USDCAD, whereby my Entry is at 1.3927 and my Stop Loss in in Profit; I have been in this position for 2 weeks now. Because the Price Action has been incredibly slow and choppy for a long period it's eventually started to move, i then identified an additional Entry Point on a Counter Trendline retest (Descending Trendline) that perfectly aligns with the 61.8% Fibonacci Retracement. I see if this move does occur it will be early next week and then foreshadowing further Downside Movement.

Feb 23, 2020

Trade active

The gGp created by the Market has hit our Entry Point to perfection! Trade has gone straight into Profit with no Drawdown... beautiful.