1.Head and Should pattern formation on daily chart . (Not textbook style Head and Shoulders ) 2. Daily chart long term trendline breakout and close. 3. Price is trending lower with the formation of a new low.
Entry: Too soon to enter at the moment even though setup looks really great, We will be waiting for the CAD interest rate decision today before looking for an entries. Will be looking to hold trade for about 4 - 5 days or until take profit is reached (Whichever comes first)
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Looking to close this trade during London session. Not enough momentum to push price towards target yet still a good trade.
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Price is moving nicely. We have some pull backs but target is still in sight