Week ending soon, USDCAD is consolidating. With the previous bearish Cypher pattern, a support has been met and the currency is now stuck in a range and not breaking yet.
According to what I'm seeing, the result of the Cypher pattern might have created a bullish Flag formation, which would break out from E to 1.3585, the last structure high there was. My second TP would be around 1.37.
Risk reward of 5?
Is it possible?
We'll see monday.
Well, the Cypher pattern was still effective. Didn't get that one right!