USDCAD Short 2018/08/27
Short idea:
Market: Channel on Daily (Flag)
Confirmations for this trade:
1)Market structure: Downtrend
Strong impulse w/ correction forming (price action)
Elliot wave (1,2,3 formed) w/ 4 in motion now leading to 5th final wave
2)Fibonacci ratio (23.6) confirmed w/ previous support / resistance + price reversal zone present
3)Final wave before potential buy at bottom of channel
Market: Channel on Daily (Flag)
Confirmations for this trade:
1)Market structure: Downtrend
Strong impulse w/ correction forming (price action)
Elliot wave (1,2,3 formed) w/ 4 in motion now leading to 5th final wave
2)Fibonacci ratio (23.6) confirmed w/ previous support / resistance + price reversal zone present
3)Final wave before potential buy at bottom of channel
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