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tonz_of_gunz
Aug 10, 2016 9:49 AM

USDCAD BEARISH PENNANT ON DAILY 做空

U.S. Dollar/Canadian DollarFXCM

描述

USDCAD developed a bearish pennant on daily which is a continuation pattern and after last days failure to make a new high we could see the start of a big move down.

评论

Boom! USDCAD breaks out of the pennant after it failed to make a new high as i expected, we should see some buyers stepping in at 1.28, if not 1.27 is the next level to look out.

评论

USDCAD testing pennant breakout and should now continue down.
评论
RaymondCcv
Sell will be better now?
tonz_of_gunz
Well not from here, you could sell right on the bottom, maybe wait for some kind of retracement.
RaymondCcv
Alright.(Y)
Nawaf6
it didn't touch 0.382 retracement line so think of the possibility that it could go back to that level.
tonz_of_gunz
Of course, there is always that possibility but it looks like the move up is finished, we will see:).
ztokar
this pennant could also be viewed as a corrective structure for the bullish impulsive leading into it, right? so you would consider a bullish break also?
tonz_of_gunz
No,only thinking about bearish drop. That "impulsive" wave its a clear abc and its inside pennant so no doesnt look like a correction for an impulsive wave up, at least not for me.
drill
Thank you for your help.
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