Sunday, July 27, 2014

USD/CAD Short Trade Shaping Up

Potential Short trade opportunity on the Daily chart of the USD/CAD.  USD/CAD is forming a Bearish Gartley pattern on the Daily chart.  AB = CD @ 1.0880 completes around the 78.6% retracement of XA at 1.0887.  It is in the zone where I would short it.  Just realize that price has a high probability of going up to at least the 1.0887 level.  May want to wait for a candlestick reversal pattern first.  See chart below.

Bearish Gartley - Daily, USD/CAD



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