USDCAD

20 Jan 2020

Throughout the years of experience i have had within trading i have noticed USDCAD moves very technically. As you can see see every time the pair reached the bottom of the pattern it has bounced off the larger pattern. there is a smaller pattern within the larger pattern too which will be my first target. the second target will be the the top of the larger pattern as a longer term target. At the moment the price has pushed up off the bottom of the large pattern and is now creating a flag continuation pattern. i will enter a long on this trade if the pattern pushes up and out of the flag, my stop loss being below the pattern and my take profits being at the top of the smaller pattern as TP1 and another entry if price breaks out the small pattern heading towards the larger one as shown.