USDCAD short at the 127.2% Fibonacci extension Short

U.S. Dollar/Canadian DollarFXCM

Description

⋅ Jul 26, 2016 3:48 PM

Hi traders,

On the USDCAD I am looking for a short entry at 1.33768. This is the completion of the AB=CD pattern, 127.2% Fibonacci extension and previous structure. The stop goes above the structure.
Entry: 1.33768
Stop: 1.35095
Target: 1.31685 = R:RR 1.57

Order cancelled

⋅ Jul 27, 2016 5:13 PM

Removing this entry for now. Will wait and see what the FOMC meeting brings.

Comment

⋅ Aug 19, 2016 12:50 PM

As long as price doesn't go below C, the entry remains valid.

Comments

shomonrobie

⋅ Jul 26, 2016 7:02 PM

Price is oversold for long time on weekly time frame:

11021992

⋅ Jul 26, 2016 7:29 PM

Yeah, price might not even get to my entry point, but I like to be prepared for any situation :).