USDCAD SELL SETUP
The trend lines seen from the other day show lower lows, which is a CLUE as to what you may see next. While "C" did not reach another lower low, "D" broke market structure sending this pair into correction mode.
This created an oversold market setting up the SELL. With an "M" forming to complete the "E" portion of the pattern, The next point of contact on the darker blue trend line is 1.30451. To be safe, I have placed my TP at 1.30500.
This created an oversold market setting up the SELL. With an "M" forming to complete the "E" portion of the pattern, The next point of contact on the darker blue trend line is 1.30451. To be safe, I have placed my TP at 1.30500.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.