Hello Traders!
As you can see on USD/CAD chart is a possible uptrend. The triangle pattern formation is a sign of the price consolidation, now we wait for a breakout on this triangle. there are 2 possibilities: - an uptrend breakout, on this breakout we will look for a buy after the breakout it's done and we have the retest and confirmation of the new support zone
- an downtrend breakout, on this breakout we will look for a sell after the breakout it's done and we have the retest and confirmation done on the new resistance zone.
Stay tuned for more! Regards RoTradeAlerts!
As you can see on USD/CAD chart is a possible uptrend. The triangle pattern formation is a sign of the price consolidation, now we wait for a breakout on this triangle. there are 2 possibilities: - an uptrend breakout, on this breakout we will look for a buy after the breakout it's done and we have the retest and confirmation of the new support zone
- an downtrend breakout, on this breakout we will look for a sell after the breakout it's done and we have the retest and confirmation done on the new resistance zone.
Stay tuned for more! Regards RoTradeAlerts!