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
Clause de non-responsabilité
Les informations et les publications ne sont pas destinées à être, et ne constituent pas, des conseils ou des recommandations en matière de finance, d'investissement, de trading ou d'autres types de conseils fournis ou approuvés par TradingView. Pour en savoir plus, consultez les Conditions d'utilisation.
Clause de non-responsabilité
Les informations et les publications ne sont pas destinées à être, et ne constituent pas, des conseils ou des recommandations en matière de finance, d'investissement, de trading ou d'autres types de conseils fournis ou approuvés par TradingView. Pour en savoir plus, consultez les Conditions d'utilisation.