USDCAD still got some upside potential before big down move
Re-label, re-label, you know the drill. This shows a bullish scenario because the low of 11-8 was breached today.
This price move knocked out the stops of longs. Pin bar suggests a possible long entry with a relatively short stop below 1.324810 9-16 high. First Target a favorite fib. location near (B) for a 5X to 1 risk reward ratio.
Mind that the trend line breach looks very bearish and if price retraces to touch this you may need to take some profit or at least move your stop to break even in case downside continues.
This price move knocked out the stops of longs. Pin bar suggests a possible long entry with a relatively short stop below 1.324810 9-16 high. First Target a favorite fib. location near (B) for a 5X to 1 risk reward ratio.
Mind that the trend line breach looks very bearish and if price retraces to touch this you may need to take some profit or at least move your stop to break even in case downside continues.