I just placed a sell order on USDCAD thanks after looking at @cyprian post:
My entry is just below the weekly 61.8 fib on the previous daily swing low. It area is quit volatile and there could still be quite a few big orders lying around there. My stop is well protected with quite a few resistance levels. The only problem I have is that there is a chance that price might not reach my entry as there is a big resistance zone just below my entry starting at 1.2965.
Currently my order is:
- ENTRY: 1.32207
- STOP: 1.345
- PROFIT: 1.27855