USDCAD Reversed Off Resistance, Prepare For Further Drop!
Sell below 1.3169.
Stop loss at 1.3219.
Take profit at 1.3051.
Reason for the trading strategy (technically):
USDCAD reversed off its resistance at 1.3169(100% & 61.8% Fibonacci extension, 61.8% Fibonacci retracement, horizontal swing high resistance) where it is expected to drop further to its support at 1.3051 (100% Fibonacci extension, 61.8% Fibonacci retracement, horizontal swing low support).
Stochastic (55, 5, 3) reversed off its resistance at 95% where a corresponding drop is expected.
Stop loss at 1.3219.
Take profit at 1.3051.
Reason for the trading strategy (technically):
USDCAD reversed off its resistance at 1.3169(100% & 61.8% Fibonacci extension, 61.8% Fibonacci retracement, horizontal swing high resistance) where it is expected to drop further to its support at 1.3051 (100% Fibonacci extension, 61.8% Fibonacci retracement, horizontal swing low support).
Stochastic (55, 5, 3) reversed off its resistance at 95% where a corresponding drop is expected.