USDCAD 240 Long opportunity with turn from recent Lower Low
Good break in RSI, although it is still not over 50 – waiting would negatively affect the RtR ratio due to my preferred TP location. Expect to enter trade upon market open but want to wait until then. Good alignment of TP at 61.8 of retracement with that Fib level being a bit under an SRZ.
Note also that we had an upward channel on the 4H since 1 Feb 19, but we had a breakout of that 4 June 19 with a retest as resistance 18 June 19. Point being we should be getting into a downtrend, and this is a counter trade, so I’ll plan to be cautious.
Note also that we had an upward channel on the 4H since 1 Feb 19, but we had a breakout of that 4 June 19 with a retest as resistance 18 June 19. Point being we should be getting into a downtrend, and this is a counter trade, so I’ll plan to be cautious.
Nota
Never made the trade. 4H DT confirmed from 1 Feb 2019. Confirmed with second LL on 28 June 2019. On to the next analysis.
Aviso legal
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