Sell USDCAD Head & Shoulder Pattern
USD/CAD H1 Chart - Potential Short Entry Based on Head and Shoulders Pattern
The USD/CAD H1 chart might be presenting a shorting opportunity based on a possible Head and Shoulders pattern.
Pattern: Head and Shoulders (Bearish Reversal)
Description:
This pattern consists of three peaks: a left shoulder, a higher middle peak (head), and a right shoulder that is lower than the head.
A neckline is drawn connecting the swing lows before the left shoulder and the right shoulder.
If the price dips below the neckline (support level), it could signal a potential sell entry.
Profit Targets: Potential profit targets can be based on the height of the head (measured from the head to the neckline) projected downwards from the breakdown point. Technical indicators can also be used for profit targets.
Thank you.
The USD/CAD H1 chart might be presenting a shorting opportunity based on a possible Head and Shoulders pattern.
Pattern: Head and Shoulders (Bearish Reversal)
Description:
This pattern consists of three peaks: a left shoulder, a higher middle peak (head), and a right shoulder that is lower than the head.
A neckline is drawn connecting the swing lows before the left shoulder and the right shoulder.
If the price dips below the neckline (support level), it could signal a potential sell entry.
Profit Targets: Potential profit targets can be based on the height of the head (measured from the head to the neckline) projected downwards from the breakdown point. Technical indicators can also be used for profit targets.
Thank you.
Nota
Stronger Oil Prices: Oil is a major Canadian export. If oil prices continue to rise due to ongoing geopolitical tensions or supply disruptions, it could strengthen the CAD as demand for Canadian oil increases.Dagangan aktif
Nota
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✳️ Forex Signals & Technical Chart : telegram.me/kabhifx
✳️ Crypto Technical Analysis - telegram.me/Kabhi_Crypto
📞📞Telegram me @t.me/kabhidhan
Penerbitan berkaitan
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.