USDCAD PRICE ACTION TRADING INV. HEAD ANS SHOULDERS
Hello Traders, and welcome!
Today, we have an exciting setup to discuss involving the USDCAD pair. On its daily chart, an inverse head and shoulders pattern has formed, and the price is currently trading above the neckline breakout at 1.36534.
We are looking to initiate a trade above the neckline breakout at 1.36534.
After a successful breakout, it's essential to monitor for a retest of the neckline.
Once the retest confirms the strength of the breakout, consider entering a long trade above the stop level at 1.35106.
For your target levels, you can consider the following:
- 62%: 1.40677
- 79%: 1.41701
Stay tuned and informed as this trade progresses. If you find this idea appealing and helpful, please show your support with a like. Additionally, consider following me to stay updated and not miss out on more trading opportunities like this.
Wishing you a fantastic weekend and successful trading ahead!
TCPLTP
Today, we have an exciting setup to discuss involving the USDCAD pair. On its daily chart, an inverse head and shoulders pattern has formed, and the price is currently trading above the neckline breakout at 1.36534.
We are looking to initiate a trade above the neckline breakout at 1.36534.
After a successful breakout, it's essential to monitor for a retest of the neckline.
Once the retest confirms the strength of the breakout, consider entering a long trade above the stop level at 1.35106.
For your target levels, you can consider the following:
- 62%: 1.40677
- 79%: 1.41701
Stay tuned and informed as this trade progresses. If you find this idea appealing and helpful, please show your support with a like. Additionally, consider following me to stay updated and not miss out on more trading opportunities like this.
Wishing you a fantastic weekend and successful trading ahead!
TCPLTP
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