UsdCad Descending Triangle - Short Setup
- UsdCad on the daily chart formed a Descending triangle which is a bearish triangle pattern
- Price broke support at 1.38597 and currently hitting trendline and still heading for 200MA
- The break out was missed, i am currently waiting for the daily candle to close before entering a sell
- will look for a sell entry on the hourly chart with a SL just ablove the broken support line
- target area - 1.36694.....a possible target area 1.34209 but once price breaks the 200MA if not then the 1st target is approx 150 pips
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Disclaimer: The Trade setups are based on my analyses and ideas and they are not signals or trading advice. Do your own analysis before you enter any trade based on my shared analyses. Trades are entered once criteria is met....Remember trading is risky and we can't force the market in any direction..#ExercisePatience
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- Price broke support at 1.38597 and currently hitting trendline and still heading for 200MA
- The break out was missed, i am currently waiting for the daily candle to close before entering a sell
- will look for a sell entry on the hourly chart with a SL just ablove the broken support line
- target area - 1.36694.....a possible target area 1.34209 but once price breaks the 200MA if not then the 1st target is approx 150 pips
========================================================================================================================
Disclaimer: The Trade setups are based on my analyses and ideas and they are not signals or trading advice. Do your own analysis before you enter any trade based on my shared analyses. Trades are entered once criteria is met....Remember trading is risky and we can't force the market in any direction..#ExercisePatience
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Trade active:
- 1st Target reached. 1 position closed with the 2nd position remaining open and the SL moved down to support area at 1.36701
Trade closed: target reached:
- 2nd Target reached. Trade has been completed.300 pips