USDCAD Short trade
Why this trade can work
: The price has moved to and wicked off if the 1.618 retracement level of the previous wave. The previous wave using the 38.2 retracement levels as support confirms the Fibonacci Retracement is relevant
: The PT is an untested area of major previous resistance that also sits at the 61.8 level giving confluence to that being the correct area to retrace to
Why it can fail:
The movement can be broken down into smaller waves on lower timeframes where the argument that areas were already retested can be made
: The price has moved to and wicked off if the 1.618 retracement level of the previous wave. The previous wave using the 38.2 retracement levels as support confirms the Fibonacci Retracement is relevant
: The PT is an untested area of major previous resistance that also sits at the 61.8 level giving confluence to that being the correct area to retrace to
Why it can fail:
The movement can be broken down into smaller waves on lower timeframes where the argument that areas were already retested can be made
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Declinazione di responsabilità
Le informazioni ed i contenuti pubblicati non costituiscono in alcun modo una sollecitazione ad investire o ad operare nei mercati finanziari. Non sono inoltre fornite o supportate da TradingView. Maggiori dettagli nelle Condizioni d'uso.