TD sequential has counted 9 consecutive bars downward on the daily, this typically is indicating a retracement is about to take place. When measuring the highest high to the lowest low on the daily's down trend this becomes a textbook Fibonacci retracement to the 0.382 level. Further supporting evidence to support this theory is the rejection of the downward movement past 1.24500. When moving upward there is a strong support level at 1.26100, I will be looking for a short opportunity at this level.
I am long on USDCAD because of this upcoming correction followed by a short at the psychological level of 1.26100
This is not Financial advice.
I am long on USDCAD because of this upcoming correction followed by a short at the psychological level of 1.26100
This is not Financial advice.