The Loonie Looked Likeable for a short Last week and what I see now suggests that the trade is on its way. We finally have price closing below the supporting trendline, and (this is important) making a lower-low structure.
I have picked 1.3150 as my line in the sand. I would like to see price close below this level (meaning we most definitely no longer have higher-lows in play) and retest it from below (like EURUSD example) to short. I see no reason why we can’t target the October lows, about 350 pips away.
I have picked 1.3150 as my line in the sand. I would like to see price close below this level (meaning we most definitely no longer have higher-lows in play) and retest it from below (like EURUSD example) to short. I see no reason why we can’t target the October lows, about 350 pips away.