Hi Andre, Yup777,
Yup777, I am still looking to long the usdcad pair - will see how soon may this happen.
E.Future, I will attach the chart for you my friend. But I have to dissagree. If we look at the chart, you are suggestinh we are at similar pattern as marked with
1 and 2 on chart. But take a look at the red lined - and we see we are not exactly in that 1, 2 points anymore, but more likely moving lower.
Another thing to pay attention to is that the low was exactly the 61 point. This may trigger attempt to retest the 1.18 for a break upside, but unfortunatly technical picture doesnt support that scenario. At least not yet. Things may change, but for now this is the situation.
Current situation is very much similar with the previous push to 1.19. Same situation with the gaps... I remember this gap at 1.1380 - 1.1440 area (market with cycles on chart). I was holding a long position over the weekend at that moment from 1.1173 with tp order at 1.1405, and even though first ticks were around 1.1440, I was closed at my order
...
Anyways, you are right about the gap area - it should be filled in order to proceed to your procpected 1.1020 area. I prefer setting tp order aomewhere around 1.11 - 1.12 - the 38 fibo area... to tell the exact level : 1.1185 that is where I will set up my t.p once/if I enter short...
Ok, good Luck everyone, will update a bit later.