USD/CAD CUP AND HANDLE PATTERN:- LONG OPPORTUNITY
Hey Guys,
Today am looking at USD/CAD the pair that is about to surprise many traders if they do not take their time to look at it carefully. This pair is at crossroads. It could go either way with this pair and so the most a seasoned trader can do is to focus on how to leave the least probables on the table.
It is not secret the pair has been on a fair rise for the last 6 years. So the question is what is planning to do from here. In my closer analysis I found the cup and handle price pattern.
Now I am of strong opinion that the pattern has set up the pair to maintain it's bullish outlook. I am watching and expecting the pair to reach 1.66645 which is a 30%.
Please again approach this with caution and study the price and what action it brings. If you get a breakout and a confirmation then hop in. That is the only way to trade successfully. If not then follow the pair downstairs as it goes bearish.
Today am looking at USD/CAD the pair that is about to surprise many traders if they do not take their time to look at it carefully. This pair is at crossroads. It could go either way with this pair and so the most a seasoned trader can do is to focus on how to leave the least probables on the table.
It is not secret the pair has been on a fair rise for the last 6 years. So the question is what is planning to do from here. In my closer analysis I found the cup and handle price pattern.
Now I am of strong opinion that the pattern has set up the pair to maintain it's bullish outlook. I am watching and expecting the pair to reach 1.66645 which is a 30%.
Please again approach this with caution and study the price and what action it brings. If you get a breakout and a confirmation then hop in. That is the only way to trade successfully. If not then follow the pair downstairs as it goes bearish.
Comment:
Forgot to add; I believe the cup handle has one move down before coming back up to break or it could just take it from where it is. We have to wait and see. Like I said wait for the breakout and your confirmation before jumping in...