USDCAD Short

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Earlier this week, I suggested that USDCAD might be reaching the end of an impulse. Wave 5 looks like it has been completed and USDCAD is now in the entry zone for a short. We will be able to ride the impulse down to at least 1.27325. There is a resistance that will be tested before USDCAD retraces and Wave 2 overlaps with the previous Wave 4.

SL: 1.28575
TP: 1.27325

Good luck!

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ملاحظة

SL triggered. USDCAD is testing the resistance. Wait for confirmation before re-entering.

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ملاحظة

Possibly a double top.

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تم فتح الصفقة

Strong downward move. Double top and Wave 5 has been confirmed. Well onto the TP now.

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ملاحظة

USDCAD stalled hard today as USD bulls fought to hold on. Oil rally will be their death. Also, USDCAD was testing the resistance of previous head and shoulders. Resistance has been confirmed.

I've moved the TP down to 1.253 as Wave 5 will at least match Wave 3, if not surpass.
s3.amazonaws.com/tradingview/snapshots/1/1X1YZ4Vd.png

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أغلقت الصفقة: تم الوصول لوقف الخسارة

SL triggered. Unsure of the direction of USDCAD at this point. It may be forming a double top and bouncing down, but it doesn't look like that's likely.

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ملاحظة

Update to this idea. Follow this as a retracement is approaching, which means an optimal entry for the big short.