I foresee USDCAD to rise. We might expect to see a reverse Head and Shoulder pattern forming on the D1 time-frame.
A great Long ( buy ) entry would be after the second shoulder has formed. We will then expect to see a Bullish Engulfing Candle at the support, which is a great confirmation to go long.
H4 time-frame can also be used to identify a good place to enter the trade.
We have a previous trendline resistance which now acts as our trendline support, together with our horizontal support level.
When it breaks the trendline resistance, we can add more long positions and then hold until our target has been reached.
A great Long ( buy ) entry would be after the second shoulder has formed. We will then expect to see a Bullish Engulfing Candle at the support, which is a great confirmation to go long.
H4 time-frame can also be used to identify a good place to enter the trade.
We have a previous trendline resistance which now acts as our trendline support, together with our horizontal support level.
When it breaks the trendline resistance, we can add more long positions and then hold until our target has been reached.
Nota
The second shoulder of this Head and Shoulder pattern is forming on this pair. The bulls want to start coming in.Nota
Second Shoulder FormedDagangan ditutup: sasaran tercapai
Our Target is hit
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.
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.