USD has been one of the weakest forex pairs since March.
Looking at the 4hr chart it has been making the pattern of lower highs against CAD since 19th of March and has matterialized a two months decending triangle that got confirmed by breaking below the floor of the pattern last week.
The previous support zone of the pattern should now act as resistant and a pull back to that level can be a good entry for a short trade.
The target of the patter is around 1.3450 which coinsides with a gap in that zone and a horizontal support zone.
This setup provides a 3 to 1 risk to reward trade.
Looking at the 4hr chart it has been making the pattern of lower highs against CAD since 19th of March and has matterialized a two months decending triangle that got confirmed by breaking below the floor of the pattern last week.
The previous support zone of the pattern should now act as resistant and a pull back to that level can be a good entry for a short trade.
The target of the patter is around 1.3450 which coinsides with a gap in that zone and a horizontal support zone.
This setup provides a 3 to 1 risk to reward trade.
Nota
Nota
almost at the target. :)
Nota
Nota
scaling out of this position.Dagangan ditutup: sasaran tercapai
Nota
Nota
+3R
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.