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diazfranj

TD Sequential and Classic Fib Retracement to 0.382 on Daily

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Dollar A.S. / Dollar Kanada (OANDA:USDCAD)  
diazfranj  
OANDA:USDCAD   Dollar A.S. / Dollar Kanada
Fibonacci Candlestick Analysis Support and Resistance USDCAD correction Fibonacci Retracement textbook classicalcharting classicpattern
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fibonacci candlestick supportandresistance usdcad correction fibonacciretracement textbook classicalcharting classicpattern
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.
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