This ascending channel on the H4 chart of USD/CAD presents an opportunity for a bearish breakout trade. The pattern's borders are shown with the yellow lines. The potential entry level - with the cyan line. The potential take-profit level - with the green line. Stop-loss is to be set to the high of the breakout bar (not shown on the chart).
Trade closed: target reached
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The pair has fell through entry and TP levels quite fast with an open at 1.32093 and close at 1.30851 during June 27-28.