USDCAD - Head & Shoulder Bottom at Structure

4 Jun 2023

Here on the USDCAD we have a potential head & shoulders bottom pattern setting up. The head 7 shoulders pattern is a classic reversal pattern which is seen after the market is over extended after a long directional move. In this particular case the head & shoulders pattern also occurs at a previous level of structure support identified from the higher timeframe which lends more credibility to this level of interest.

If you have any questions or comments please feel free to leave them below & until next time PLAN YOUR TRADE, TRADE YOU PLAN! - Akil