USD/CAD 1.618 Short
USD/CAD made a reversal on Friday during the news. The entry already happened but you can still trade down with the new trend and jump in during retracements.
Analysis
-Hit 1.618% fib retracement of previous structure lows and highs
-Hit the top of the channel
-Created a doji on the daily chart
-Also were some divergences on the hour chart showing selling pressure
Exits
I believe take profits could be around the 1.30-1.3050 area at the bottom of the channel. USD/CAD like to shoot up a lot and shoot right back down so I think this isn't an unreasonable target.
Analysis
-Hit 1.618% fib retracement of previous structure lows and highs
-Hit the top of the channel
-Created a doji on the daily chart
-Also were some divergences on the hour chart showing selling pressure
Exits
I believe take profits could be around the 1.30-1.3050 area at the bottom of the channel. USD/CAD like to shoot up a lot and shoot right back down so I think this isn't an unreasonable target.
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