USCAD Retesting Strong Resistance. Waiting for Trendline Break

USDCAD is again at 78.6% fibonacci level (or 61.8%, it depends on how you draw fibo), which was respected in the past. I am waiting for trendline break on Daily TF, and retest. Perfectly in a form of Head and Shoulders to take a short position. UC is in correlation with oil, which can drop a little more, thats why we have to be patient and wait for trendline break first.

Handel aktiv:

Perfect entry after the break. When descending trendline breaks I will exit the sell.

Kommentera:

Head and Shoulders pattern at the top