USDCAD profit target reached perfectly, prepare to sell
Sell below 1.2844. Stop loss at 1.2900. Take profit at 1.2708.
Reason for the trading strategy (technically):
Price has shot up and reached our profit target perfectly. We prepare to sell on major resistance at 1.2844 (Fiboancci extension, Fibonacci retracement, horizontal overlap resistance) for a push down to at least 1.2708 support (Fibonacci retracement, horizontal pullback support).
Stochastic (34,3,1) is seeing major resistance at 98% where we expect a corresponding drop from.
Reason for the trading strategy (technically):
Price has shot up and reached our profit target perfectly. We prepare to sell on major resistance at 1.2844 (Fiboancci extension, Fibonacci retracement, horizontal overlap resistance) for a push down to at least 1.2708 support (Fibonacci retracement, horizontal pullback support).
Stochastic (34,3,1) is seeing major resistance at 98% where we expect a corresponding drop from.