USD/CAD
Following a day of consolidation on the 618 fib level yesterday with a 1hr wedge pattern appearing. Bottom end of the wedge has just broken. Ongoing corona virus uncertainty is probably a likely catalyst. DMVT is moving towards a bearish trend with volume increasing on the ADI. Stochastic is looking to cross and go bearish. Mac D bullishness is decreasing. Running with a tight stop of 60 pips and only risking 1% of account size. Looking to take profits at the 786 fib level.
Following a day of consolidation on the 618 fib level yesterday with a 1hr wedge pattern appearing. Bottom end of the wedge has just broken. Ongoing corona virus uncertainty is probably a likely catalyst. DMVT is moving towards a bearish trend with volume increasing on the ADI. Stochastic is looking to cross and go bearish. Mac D bullishness is decreasing. Running with a tight stop of 60 pips and only risking 1% of account size. Looking to take profits at the 786 fib level.