USD.CAD long scalp into Reversal Trade? Attempt 2

2020-01-03 18:45:44

Tying to catch the bottom again.
Last attempt got a nice scalp (click).
This should be much stronger support.

I know, I know, "Bottom picking is a Stinky Business" lol.
But fibs and confluences often point out the exact bottom.
Not all fibs start a reversal, but most Reversals start at a fib.

1.3007-3014 will be tough resistance, break and retest would be a good sign.
1.3053-3058 is a natural retrace level, could fail there to continue downtrend.
1.3099-3102 is the ideal target, should be achievable if Oil take a breather.

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Previous USD.CAD analysis (click):
Dec 18. 2019: 1.31 Long Scalp (quick 60 pips)
Nov 21, 2019: 1.33 Short Call
Nov 20, 2019: 1.331 Long TP (longs to perfect target)
Nov 19, 2019: 1.319 News Scalp (fib support launch)
Nov 15, 2019: 1.319 Short TP (shorts to perfect target)
Oct 16, 2019: 100+ pip Short
Aug 19, 2019: 1.338 Top Call (exact top mapped)