Sell Setup - Bearish Engulf, Fib level, Channel & Wave Count
USDCAD has been a difficult pair to trade as it has been displaying wild swings both ways all week.
The weekly chart shows a massive bearish engulfing chart, so will continue to look for setups to short on the 15m & 1H.
The chart shows the pair has just finished correcting the leg from 1.4147 highs. The correction began at 1.3947 lows and unfolded as a zigzag with a double in the C wave.
So far we've seen a 15min bearish engulfing candle against the 76.4 Fib which falls at 1.4100
Short positions from this area favored for targets towards the 1.3800 area
The weekly chart shows a massive bearish engulfing chart, so will continue to look for setups to short on the 15m & 1H.
The chart shows the pair has just finished correcting the leg from 1.4147 highs. The correction began at 1.3947 lows and unfolded as a zigzag with a double in the C wave.
So far we've seen a 15min bearish engulfing candle against the 76.4 Fib which falls at 1.4100
Short positions from this area favored for targets towards the 1.3800 area
