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Old 27-01-2017, 19:40
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Join Date: Jan 2017
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Default FX Trading Ideas

You have the current USDCAD Daily on 27/1/17 chart showing a classic butterfly pattern. The price is currently moving down to the last point D, to complete the setup. If this point is met chart theory suggests you can get a Fibonacci retracement of at least 38.2%.
This is an extension pattern that uses specific Fibonacci ratios to validate the structure. This trade gives better than a 4:1 risk ratio with a potential 2.3% gain.
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