Update from USDCAD LONG, which I wrote about here. I was anticipating a break above the trendline which took place on the 13th. Price action has pushed through the 50.0% retracement level from the May-September bearish swing. My target is @ 1.31290, which corresponds closely to the 61.8% Fib level, which is also the 1.618% extension off the January 31st low.
Also worth mentioning is the significant shift in trader sentiment as retail traders are now net short at almost 3:1.
Also worth mentioning is the significant shift in trader sentiment as retail traders are now net short at almost 3:1.
