USDCAD SHORT OPPORTUNITY - DESCENDING TRIANGLE BREAKOUT??

This is an update to the trade I posted yesterday which I am currently up +15 pips.

Price seems like its forming a descending triangle pattern, with a very bearish close on the H4 at 1pm Eastern.

If you did not enter the trade yesterday, please look at the analysis today for a great entry.

Wait for breakout and retest to enter!

My initial weekly analysis determined that a potential big down move for the USDCAD was primed for this week. It looks like it's playing out currently.

Trade Analysis:

Risk to reward: 3+
Technical Analysis: Descending Triangle Pattern
Candlestick: Bearish candlestick with long wick and strong close


Daily trade analysis and ideas:

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ความคิดเห็น:

Looks like price retested the bottom of the descending triangle, strong bearish close last hour